William Barish, Founder of CPN, has listed and sold the highly visible and accessible Princeton Service Center at 3490 Route One, an 11 acre site comprising over 100,000/SF. The Buyer was Onyx 3490 LLC, formed by a group specializing in the turnaround of similar type situations. According to Barish, “The marketing assignment actually began over 25 years ago, having worked with the ownership of this property and assisting with the sale of another similar property across the street, 29 Emmons Drive, a site we currently market for lease. The general plan is to upgrade the buildings, site and provide suites renovated to suit the needs of prospective tenants, from 1000 to over 20,000/SF. The site is currently 25% occupied, allowing for a wide range of flexibility for a variety of tenant groups. The property offers several free standing buildings from 7000 to 20,000/SF.” More detailed development plans will be released by the Developer in the coming weeks.
Sold, Route One Office Park: Princeton Service Center, for $5.2 million
