GE Capital has sold a multi-tenant office building located in Franklin Township, New Jersey to Denholtz Associates. The building, Somerset Executive Square II, has 83,258 square feet of office space that features newly renovated lobbies and corridors. Sitting on a five-acre site the property is located near the Interchange of I-287 and the New Jersey Turnpike and Garden State Parkway. Terms of the deal were not disclosed.
“We have been players in the central Jersey marketplace for a very long time and we understand how to extract the maximum value of a well-positioned, multi-tenant office in the current environment,” said Steven Denholtz, Chief Executive Officer of Denholtz Associates. “We are able to maximize the value and minimize the risks of our investments by filling vacancies with multiple tenants, and our size and resources relative to our competitors puts us at an advantage to do so.”
