Colliers completes sale of Edison Square West in Edison, New Jersey for $11,700,000
±98,566 s/f class A office asset trades at $119 psf following a broad, controlled marketing process
EDISON, NJ — Colliers, a leading diversified professional services and investment management company, announced the successful sale of Edison Square West, a ±98,566 s/f class A office building located at 2035 Lincoln Hwy. in Edison, on behalf of seller Friendwell Management USA, LLC, for $11.7 million, or 119 psf. Marketed in partnership with Ten-X, a leading online commercial real estate auction platform, the property ultimately traded through a negotiated pre-auction sale. The transaction was led by vice chair Jacklene Chesler, senior vice president Patrick Norris, and transaction manager Brittany Leventoff.
At the time of sale, Edison Square West offered investors a compelling value-add opportunity, with 17,000 s/f of immediate vacancy and an additional 13,000 s/f anticipated to become available following the largest tenant’s planned downsizing this year. Combined with its highly visible location along Rte. 27 within one of Central New Jersey’s most established business corridors, the asset attracted significant attention from private and institutional investors seeking both in-place income and future upside.
“The sale of Edison Square West underscores the power of strategic positioning, broad market exposure, and a disciplined execution process,” said Chesler. “By generating significant investor engagement and fostering meaningful competition, we were able to deliver an outstanding result for our client. The strong response from the marketplace reflects continued demand for well-located office assets that offer both stable cash flow and value-add potential. This transaction is another example of how the right marketing strategy can maximize value and create certainty in today’s investment environment.”
Through a comprehensive and highly targeted marketing campaign, Colliers and Ten-X generated more than 130 executed confidentiality agreements and conducted 11 property tours, creating a competitive bidding environment that culminated in a strong pre-auction offer. The transaction achieved exceptional execution certainty, supported by a $1 million non-refundable deposit submitted upon execution of the purchase and sale agreement. As part of the sale structure, the buyer and seller also agreed to share the mansion tax and transfer tax equally.
“This sale is a clear signal that demand for well-located office product in New Jersey hasn’t gone anywhere. Investors are still competing for assets with the right basis and the right location, and Edison Square West had both,” said Norris.
“Colliers’ expertise and disciplined marketing process delivered exactly the outcome we were looking for. As part of the transaction, we structured a sale-leaseback that allows 2035 Lincoln Hwy. to remain our corporate headquarters,” said Parth Pandya, asset manager at Friendwell Management USA, LLC.
