Zimmel Associates, a leading real estate brokerage firm, successfully orchestrated the recent sale of 100 Davidson Avenue in Somerset, New Jersey, a prominent 64,709 square foot, 3-story office building, for a total of $5 million. Spearheaded by Joel Natter, Vice President of Zimmel Associates, and supported by David Zimmel, President, and Jason Zimmel, Vice President of Zimmel Associates, the transaction marks a significant milestone in the Somerset commercial real estate market.
Having previously handled the sale of 100 Davidson Avenue to Toranco Somerset, LLC, represented by The Torsiello Organization, a remarkable 12 years ago, Zimmel Associates retained its exclusive brokerage role for the property. The office building, constructed in 1979, caters to multiple tenants and offers 258 surface parking spaces for convenience. Its strategic location off Route 287, near NJ Transit and Newark International Airport, further enhances its appeal.
Through a seamless collaboration, Joel Natter identified 100 Davidson Avenue as the ideal match for their esteemed client, Titan Mahagun LLC, who specifically sought 20,000 square feet of space. Natter stated, “The building’s exceptional condition, necessitating minimal renovation and maintenance, made it the perfect choice for Titan Mahagun LLC, catering to their needs for an operational space and an investment opportunity to generate income from existing leasing.”
Given the current conditions of the office market in the area and prevailing vacancies within the building, Zimmel Associates saw the perfect timing to approach Toranco Somerset LLC for a potential off-market deal. The collaboration led to the successful closing of a $5 million transaction, granting the new owners, Titan Mahagun LLC, ample scope to utilize additional space as existing leases reach their termination.
Zimmel Associates remains committed to fostering thriving real estate ventures, providing unparalleled expertise and insight to its valued clientele.
ABOUT ZIMMEL ASSOCIATES
Zimmel Associates is a full service corporate real estate brokerage firm that provides knowledge-driven real estate leasing, sales, consulting and property management services. Clients include owners, tenants, investors and developers.
The firm is well known throughout New Jersey where they represent more than 5 million square feet of exclusive space. Zimmel Associates’ geographic scope also includes New York and Pennsylvania.