2300 Route 33 in Robbinsville — Courtesy: Cushman & Wakefield
By Joshua Burd
Investors Bank has sold and leased back its well-known office and retail building in Robbinsville, under a newly announced transaction by Cushman & Wakefield.
In a news release, C&W said the 47,188-square-foot property at 2300 Route 33 changed hands for $20 million. The lender has leased back the three-story property on a long-term basis as part of the deal with the buyer, Realty Management Systems.
“This property benefits from exceptional demographics with average household incomes of more than $166,000,” C&W’s Andrew Schwartz said. “These demographics coupled with the abundance of nearby amenities create an ideal office environment.”
Schwartz represented the seller and procured the buyer alongside Patrick Dugan, Andrew Merin, Frank Liantonio, David Bernhaut and Jordan Sobel, also of Cushman’s capital markets team. They noted that 2300 Route 33, which was built in 2005, is a major piece of the 140-acre, mixed-use Robbinsville Town Center developed by Sharbell Development Corp.
Roma Bank was the property’s original occupant before the lender was acquired by Investors in 2013. The banks collectively have occupied the building since its inception, C&W said, noting that it includes a full-service bank branch with three drive-thru lanes.
The brokerage team added that 2300 Route 33 is less than a mile from Route 130 and less than five miles from both the New Jersey Turnpike and Interstate 295, with proximity to hospitality, newly constructed luxury housing and a host of dining options.