Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG) has been named exclusive marketing agent for Tower 270, a 229,000-square-foot, eight-story office property in Somerset. A team led by Richard Mirliss, Michael Tesser, Alexander Vitro and Ryan Haggerty is bringing the property to market as an owner/occupier purchase opportunity, with 83,000 square feet of space also available for lease to a single user or multiple tenants.
Tower 270 offers plug-and-play units available from 2,800 square feet. The building features newly renovated lobby and common areas, and recently added convenience amenities including a café and shared conference center space. Tenants also benefit from covered parking and on-site property management.
“This building has been upgraded and maintained through its history,” Mirliss said. “We are seeing more users explore property purchases as means to control their operating costs for the long term.”
“As availabilities begin to tighten, upward pressure is placed on rents,” Tesser added. “In fact, Central New Jersey’s average asking rent closed the first quarter at $25.82 per square foot, up $1.05 per-square-foot year-over-year.”
Mirliss noted that the recent capital investment at Tower 270 also positions it as an attractive leasing opportunity for regional businesses. “This really is a great building that has been well maintained through its history,” he noted. “Its quality, flexible accommodations, onsite amenities and outstanding location continue to draw steady inquiries from a diverse pool of tenants.”
Tower 270 is located at Exit 10 of I-287, a four-way interchange, providing easy access to routes 18, 22 and 27.
About Colliers International Group
Colliers International Group Inc.(NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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