By Tina Traster
Brokerage firm NAI Fennelly has negotiated the sale of a 58,000-square-foot flex building at 68 Culver Road in the Monmouth Junction section of South Brunswick for $5.575 million.
NAI Fennelly’s Pat Dintrone represented the seller in the transaction with the buyer, Acutis Diagnostics, which was represented by Colliers Senior Managing Director Doug Petrozzini and Associate Conor Ryan. He said Acutis plans to convert the entire building to lab usage and occupy 30,000 square feet while leasing the remaining 28,000 square feet to other firms in the market for prebuilt lab space.
The building features 318 parking spaces partially covered by a recently installed one-megawatt solar system that powers the property and is suited for office, research and development, drug manufacturing, assembly or laboratory space.
“Advances in drug discovery and manufacturing have caused the market to see explosive demand for turnkey lab space across New Jersey,” Dintrone said. “This sale further highlights our ability to provide our clients with the guidance they need to capitalize on this market and help bring much-needed lab space to the local market.”
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
