By Joshua Burd
A high-tech manufacturing company has acquired an AT&T Corp. office building in Piscataway, with plans to use the site to develop products for a wide variety of industries.
NAI DiLeo-Bram represented the buyer, HORIBA Instruments Inc., in its $6.85 million purchase of the property, the brokerage firm said in a news release. The 132,000-square-foot office building sits at 20 Knightsbridge Road, just off Interstate 287.
Robert Dinner and Christopher Galiano handled the assignment on behalf of NAI DiLeo-Bram, which is based in Piscataway. Their client, HORIBA, is headquartered in Kyoto, Japan.
The HORIBA scientific business unit, which is now in Edison, will retrofit and occupy the Piscataway building for the development and manufacturing of highly technical instruments.
The products are largely for measuring and monitoring systems equipment for the automotive, environmental, medical diagnostics, semiconductor and scientific optical analyzers industries.
An on-site solar energy panel system services a major portion of the building for significantly reduced energy costs, the news release said.
“Many firms in need of space are purchasing buildings to take advantage of the current real estate market and financing conditions for retrofit and long term occupancy to control occupancy costs and obtain future appreciation,” Dinner, executive vice president with the firm, said in a prepared statement.