NAI Fennelly arranges sale of S.T. Peterson buildings

Three buildings that make up part of the S.T. Peterson Portfolio in Central Jersey have been sold, according to real estate services firm NAI Fennelly.

The portfolio, which is being exclusively marketed by Jerry Fennelly and Pat Dintrone of the Princeton-based firm, includes 175,000 square feet of office and warehouse buildings. It is being sold off primarily to investor/user companies.

The three recent sales include:

  • A 40,000-square-foot multitenanted office building on Route 130 in Hamilton;
  • A 5,600-square-foot office building on Route 1 in South Brunswick;
  • A 2,800-square-foot office building on Route 1 in South Brunswick.

The three remaining buildings in the portfolio include:

  • A 56,000-square-foot multitenanted flex warehouse building;
  • A 40,000-square-foot office, technology and medical building;
  • A 16,000-square-foot laboratory building.

“Fennelly offered us a flexible, tailored marketing strategy that would cater to our specific needs of maximizing profits and spreading the disposition over a period of time to defer tax consequences,” Sue Wolstromer of S.T. Peterson said in a prepared statement.