Cushman & Wakefield Arranges Sale of NJ Office Complex
- Dec 19, 2018
IBIS Realty LLC has acquired Ibis Plaza, a two-building office complex in Hamilton, N.J. A Cushman & Wakefield team comprising Andrew Schwartz, Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Ryan Larkin and Milt Charbonneau handled the sale of the single-story assets. The same team brokered the disposition of a nearby office park in July.
Located at 3525-3535 Quakerbridge Road, the 119,000-square-foot buildings have collaborative spaces with flexible layouts and include 26,000 square feet of express office suites, as well as a 6,700-square-foot rentable event venue. At the time of sale, the property was 88 percent occupied by a diverse roster of tenants including Progress Center For Independent Living Directions, NovaCare, Hamilton Horizons Federal Credit Union and Carf International.
Ibis Plaza is situated 2.5 miles from the Interstate 295 interchange and 2 miles from the Hamilton New Jersey Transit Train Station, in the Princeton Corridor. The property provides easy access to NYC Penn Station as well as a bus station right at its entrance.
“The same attributes that provide a strong draw for tenants—plentiful neighborhood amenities, surrounding executive housing communities, a highly educated labor pool and proximity to major universities—continue to make this location a prime investment target,” Larkin said in a prepared statement.
Image courtesy of Cushman & Wakefield