Real estate advisory firm Vantage Commercial announced Nov. 6 the sale of 100 Franklin Square, a 106,600-square-foot, four-story mid-rise office complex in Somerset for an undisclosed amount.
The asset was listed by Vantage on behalf of an unidentified seller as a real estate-owned (REO) property. Following a competitive process with multiple qualified offers, Vantage guided ownership to the buyer selection, closing 88 days after the listing was signed.
The property was acquired by an owner-user planning to leverage the first-floor availability to expand local surgical centers, enhancing access to outpatient care in the market.
Ken Richardson, vice president and partner at Vantage Commercial, guided the seller through multiple offers from developers, investors, and owner-users, focusing on funding certainty, deal terms and probability of closing.
“This assignment demanded certainty of execution,” said Richardson. “Through disciplined underwriting, an organized data room, and proactive buyer engagement, our team delivered a competitive environment and a clean path to close.”
The property is southwest of Route 287 and the Piscataway campus of Rutgers University.
Vantage Commercial is based in Cherry Hill and Philadelphia, serving New Jersey, Philadelphia and Eastern Pennsylvania.
