By Joshua Burd
Two Central Jersey commercial buildings have changed hands after transactions brokered by NAI DiLeo-Bram & Co., the firm announced.
In the first deal, the brokerage represented the seller of a 72,000-square-foot property at 351 Campus Drive in the Somerset section of Franklin, according to a news release. The buyer was ROG Acquisitions LLC, which paid $5.76 million to acquire the building.
The sale was orchestrated by Marc Shein and Christopher Galiano, the Piscataway-based brokerage said.
The firm also said it represented the owners in the $8.7 million sale of 70 Jackson Drive in Cranford. The asset is a 170,000-square-foot building that includes both industrial and office space, with Daniel Duggan, Richard Goski, Catherine Goski and Richard Galuppo handling the assignment.
Both purchasers were owner and users, the news release said.
“We continue to see high demand for enterprise owners trying to find buildings for purchase,” Greg Brown, managing director of NAI DiLeo-Bram, said in a prepared statement. “Subsequently, current building owners are recognizing that if we aren’t at the top of the market, we are probably close.
“Selling industrial assets, particularly those in need of capital improvements, makes a lot of sense right now. We expect this trend to continue.”