Zimmel Associates on Thursday said it successfully negotiated the sale of 1090 King Georges Post Road in Edison for an impressive $49.75 million.
This expansive property encompasses a 122,000-square-foot office complex, consisting of 12 standalone buildings.
Overseeing this prestigious transaction was David Zimmel, president of Zimmel Associates.
1090 King Georges Post Road occupies a prime position at the forefront of Raritan Center, surrounded by industrial businesses such as Amazon, Arizona Iced Tea, Fuji, Domino’s Pizza and FedEx, to name a few. This strategic location affords convenient access to major highways, including the Garden State Parkway, Interstate 287, New Jersey Turnpike and Routes 1 & 9.
The exceptional aspect of this transaction lies in the lasting bond between David Zimmel and the property, tracing its roots to 1994 when he facilitated its sale to Denholtz Properties.
Furthermore, subsequent to the acquisition, Zimmel Associates established its corporate headquarters at 1090 King Georges Post Road, Suite 808.
Zimmel assumed the role of leasing broker in 1994, demonstrating remarkable proficiency in sustaining consistently high occupancy levels for nearly three decades. This unwavering commitment stands as a testament to its enduring expertise as an owner representative and exclusive broker.
In response to the evolving dynamics of the office and industrial real estate landscape, Denholtz Properties once again sought Zimmel Associates’ strategic guidance.
After a carefully executed marketing campaign, 1090 King Georges Post Road attracted considerable attention and interest. Federal Business Centers, a well-established entity within the renowned Raritan Center, was particularly drawn to the property’s appeal. Following several months of negotiations, the deal successfully closed in August.
“Over the next two to three years, as existing leases conclude and the approvals from local authorities are secured, Federal Business Centers is excited to embark on this redevelopment journey. During this transformative phase, we are honored to have been retained to oversee office leasing activities,” Zimmel said.
