399 Campus Drive in Somerset — Courtesy: CBRE
By Joshua Burd
The owner of a four-story office building in Franklin Township has picked CBRE as its leasing agent, having launched a series of upgrades to lure new tenants to the property.
Brokers with CBRE will represent Golden Gate Management, a private equity firm, in its effort to reposition the 125,037-square-foot building at 399 Campus Drive. Located in the town’s Somerset section, the asset is the former Liberty Mutual headquarters and will soon boast new HVAC systems and a renovated fitness center, café, common areas and rest rooms.
Peter Shikar and Patricia Riedel will spearhead the leasing campaign.
“We are thrilled to be working closely with Golden Gate Management in introducing this high-caliber office asset to the market,” said Shikar, a first vice president with CBRE. “With ownership’s commitment to improving the property, we’re confident we will be able to lease the remaining space, despite these challenging times right now facing our industry.”
Golden Gate acquired the property earlier this year, the brokerage team said. In seeking to reposition the building, the New York-based firm hopes to capitalize on its location near Interstate 287 and its accessibility from the New Jersey Turnpike, the Garden State Parkway, Route 22 and Interstate 78.
The complex is also minutes from retail, restaurants and hotels and three miles from the Bridgewater Commons Mall.