Edison Office Tower Sells for $11.4 Million in Colts Neck Deal

A Colts Neck entity purchased the three-story Edison West office building at 2035 Lincoln Highway for $11.4 million. The buyer, 20235 Lincoln Hwy LLC, closed on the 5.4-acre property in a pre-auction transaction that concluded before an online commercial real estate auction scheduled for early August.

Colliers Vice Chair Jacklene Chesler, Senior VP Patrick Norris, and Transaction Manager Brittany Leventoff led the transaction for the brokerage firm. Their marketing efforts resulted in more than 130 executed confidentiality agreements and 11 property tours. The building is part of the Edison Square complex, which also includes the Crowne Plaza Hotel and Conference Center.

The property has maintained an assessed value of $4.3 million over the past decade. It last changed hands in November 2014 for $9.5 million. Before that, the building sold for $24.2 million in October 2006. Middlesex County Tax Board records dated September 5 confirm the current sale price and buyer details.

The building currently houses tenants in the medical technology, financial services, and education sectors. Approximately 17,000 square feet of space was available at the time of the sale, including a 15,000-square-foot commercial pad. Friendwell Management, the building's largest tenant and former owner, plans to downsize. This move will release an additional 13,000 square feet of space later this year, according to RE-NJ.

The site benefits from direct access to major transportation routes in central New Jersey. New Jersey Route 27 borders the complex, and the Interstate 287 interchange is nearby. The Edison New Jersey Transit station is 1.5 miles away. The property is also within five miles of U.S. Route 1, Exit 10 of the New Jersey Turnpike, and the Garden State Parkway.