JLL announced Tuesday it has closed on the sale of a vacant office building in South Plainfield.
The 104,020-square-foot property is situated on five acres and located at 1001 Durham Ave. in the West I-287 Industrial submarket, JLL said.
JLL said its Capital Markets team of Jose Cruz, senior managing director, and Marc Duval and Jordan Avanzato, directors, marketed the property on behalf of the seller, ConnectOne Bancorp Inc. Piscataway-based Edgewood Properties purchased the asset.
1001 Durham offers the ability to be repositioned as a single-tenant or multitenant office building or be redeveloped into an industrial facility. It currently features a three-story atrium, flexible floor plans and parking.
The property is within close access to interstates 287 and 95, and routes 1 and 22.
“This is a great location with access to the highways and a significant labor pool,” Cruz said. “The asset has significant upside both in its current use as well as a potential redevelopment.”
Financial terms were not disclosed.