A private, New Jersey-based investor purchased a 32,000-square-foot multitenant office building in Chester in Morris County.
Colliers announced the sale of 2 and 4 Mill Ridge Lane Aug. 3.
Vice Chair Jacklene Chesler and Director Patrick Norris marketed the property and completed the transaction, a partial sale leaseback, on behalf of the seller. The sale was closed through an auction on Ten-X. According to Colliers, it received several bids for the three-story elevatored property via the online commercial real estate auction platform.
“We continue to have strong results in this changing market. We received a high volume of bidders during the marketing process,” said Chelser. “Year-to-date we have successfully closed or have under contract 29 deals that were handled through an online auction process. We have wrapped up well over 80 properties via auction over the last few years.”
Situated on 3.23 acres and located walking distance from Chester’s Historic Downtown – which offers more than 80 boutiques and eateries – the building has flexible floor plates, a conference center, gym, outdoor patio and over 130 parking spaces.
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