JLL announced it closed the sale of a 104,020-square-foot vacant office building at 1001 Durham Ave. in South Plainfield.
Prior to being acquired by JLL on July 1, this was an HFF legacy deal. JLL marketed the property on behalf of the seller, ConnectOne Bancorp Inc. and Edgewood Properties purchased the asset. 1001 Durham Ave. is currently managed and operated by a court-appointed receiver.
1001 Durham Ave. offers an opportunity to upgrade the property to reposition and lease-up as a single-tenant or a multi-tenant office building, or be redeveloped into an industrial facility in the West Interstate 287 Industrial submarket.
The property is situated on 5 acres and features a three-story atrium, flexible floor plans and ample parking.
The JLL Capital Markets team representing the seller included Senior Managing Director Jose Cruz and Directors Marc Duval and Jordan Avanzato.