Piscataway office complex is sold for $23.5M, Colliers says

A 245,000-square-foot Piscataway office property has sold for $23.5 million, according to Colliers International Group.

One Centennial Plaza changed hands for more than double what the seller paid for the Class A property in 2016, noted Colliers, which had also handled the earlier transaction.

Jacklene Chesler, executive managing director, led the team that handled the sale. It also included Matthew Brown, Patrick Norris and Frank Summers.

“One Centennial Plaza is a best-in-class office property that’s unmatched in the submarket and is located in one of New Jersey’s most conveniently-situated markets,” Chesler said in a prepared statement. “Not to mention the fact that it is anchored by tenants including Johnson & Johnson, Paychex and Ingersoll-Rand, which made it a very attractive investment opportunity.”

Neither party to the transaction was disclosed.

The property includes two office buildings and amenities including a three-story glass atrium on 24 acres.