NAI Fennelly facilitates reacquisition of Robbinsville office condo

NAI Fennelly on Tuesday said it negotiated the reacquisition of a 23,000-square-foot office condo in Robbinsville.

NAI Fennelly President Jerry Fennelly represented the property’s owner, Sharbell Development, and CBRE represented the seller, the American Heart Association, in the transaction.

Sharbell Development chose NAI Fennelly in 2000 to market office space located at 1 Union St. for sale or lease in its newly constructed 72,000-square-foot building. Through a marketing strategy that highlighted the property’s location in downtown Robbinsville and superior accessibility, NAI Fennelly was able to negotiate the sale of a full-floor, 23,000-square-foot office condo to serve as a new office for the American Heart Association.

in 2020, AHA’s changing needs meant it no longer needed the large space and the organization hired NAI Fennelly to represent it in the sale of half of the condo back to Sharbell Development. In 2021, the AHA decided to sell the remaining space in its condo. However, this time, NAI Fennelly’s experience with the property was leaned on by Sharbell Development to negotiate the reacquisition of the American Heart Association’s remaining space.

“Although repeat business is common in this industry, you are rarely brought in to represent different sides of a transaction over 20 years apart,” said Fennelly. “However, this reacquisition showcases how we are uniquely trusted by buyers and sellers alike to bring even the most complicated deals across the finish line in central New Jersey.”