Cushman & Wakefield on Monday said it arranged the sale of a 30,000-square-foot office property located at 1200 Tices Lane in East Brunswick. The final sale price was $7.25 million.
Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel and Andre Balthazard represented the seller, Adoni Property Group LLC, and procured the buyer, SiriVarsha Tices LLC, in the transaction. Brad Domenico from Progress Capital assisted with the financing.
“East Brunswick continues to thrive as a high-demand office market and this fully leased property provided strong potential to maintain stable cash flow,” Sobel stated. “The property received significant interest because of its ideal location and modern amenities.”
1200 Tices Lane is a fully leased, single-tenant office building. The asset features a modern lobby, kitchen, conference rooms and 120 parking spaces.
The property is located off the New Jersey Turnpike, allowing for direct access to the surrounding neighborhoods and New York City.