1 AAA Drive in Hamilton — Courtesy: NAI Fennelly
By Joshua Burd
The owner of six Princeton-area commercial buildings has sold one of the properties for $4.9 million, one of several recent deals announced by NAI Fennelly.
The brokerage firm said Monday that it represented S.T. Peterson in the sale of 1 AAA Drive in Hamilton, a 40,000-square-foot building that is 81 percent occupied with multiple tenants. William Barish, broker and founder for Commercial Property Network, represented G4-AAA, an end user that will occupy 4,500 square feet.
The property — one of six area office, lab and warehouse buildings owned by S.T. Peterson — sits at the intersection of Interstate 195 and Route 130 in Hamilton. The remaining five are located at 4250-4270 Route 1 South in South Brunswick, comprising 120,000 square feet of office, lab, showroom and warehouse space.
They are still available as investment properties or for end user occupancy, NAI Fennelly said.
The Hamilton-based brokerage also said it exclusively marketed 3967 Princeton Pike in Princeton, a 100-year-old barn that was renovated by its then-owner, an architectural firm. The property includes 6,000 square feet of office space with 20-foot-high ceilings, just two miles from downtown Princeton.
Fennelly marketed the site to end users and ultimately sold it to Verus Claims Services, which was represented by JLL, for $1.3 million. Verus’ plans for the space call for at-home placement and hoteling office space.
In a third deal, Matt Fennelly, Gerard Fennelly and Tom Barbera of NAI Fennelly exclusively represented ACV Enviro Services in its 12,932-square-foot office lease in the Avenel section of Woodbridge. The space is located at 1500 Rahway Ave.
ACV is a $120 million environmental cleanup company, which saw the location as convenient to its other five offices on the eastern seaboard, with immediate access to Route 1 and the New Jersey Turnpike. CBRE represented the owner Principal RE Investors.