Forsgate Commons at 241 Forsgate Drive in Jamesburg — Courtesy: Lee & Associates New Jersey
By Joshua Burd
A former school building in Jamesburg that now houses more than 26,000 square feet of office space has traded for $4.4 million, in a deal arranged by Lee & Associates New Jersey.
According to the firm, an undisclosed nonprofit purchased what’s known as Forsgate Commons at 241 Forsgate Drive. Lee & Associates New Jersey’s Beth Chezmar represented the seller of the 26,295-square-foot property, while Dan De Palma of North American Realty represented the purchaser.
“The buyer, a not-for-profit organization, was initially attracted to the property’s Central Jersey location, the building size and its stately construction,” Chezmar said.
Built in 1930 as Jamesburg High School and renovated for multitenant office use in the 1980s, Forsgate Commons is home to many long-term occupiers in a range of industries, according to a news release. The two-story, Art Deco structure sits on 3.3 acres about two miles from the New Jersey Turnpike, with easy access to Route 130 and other regional thoroughfares.
“The ample parking capacity and ability to occupy a portion of the building on closing were major factors in my client’s decision to move forward with the acquisition,” De Palma said.