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Edison, NJ, December 4, 2006- Onyx Equities, LLC has announced the acquisition of 2025-2045 Lincoln Highway, the three-building, 230,969-square-foot office complex located in Edison, NJ for $24,175,000. The seller was Berkshire Funding Group, LLC.
The office complex is currently 62% leased and is located in the heart of Middlesex County, within one mile of exit 2B of I-287.
“We saw the acquisition of this office complex as a value added investment,” said Jonathan Davis, Onyx Equities’ vice-president of investments. “2025-2045 Lincoln Highway is the only office complex in this marketplace controlled by a single owner that features a central courtyard and the luxury and convenience of having the 170 room Clarion Hotel & Conference Center within the complex.”
Onyx Equities plans to make significant upgrades to the property’s exterior including improvements to the landscaping, signage, pavers, and parking lots. In addition, Onyx will be upgrading the common areas in all three buildings, and adding amenities to the complex.
2025-2045 Lincoln Highway’s roster of tenants includes Nestle USA, Metropolitan Life Insurance, Janney Montgomery Scott, and PDL BioPharma.
Paul Giannone, Kevin Carton, and Todd Elfand of Jones Lang LaSalle are handling the leasing for the property.
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC was formed in 2004 and currently owns a portfolio of 2,693,000 square feet of office, retail, and industrial properties located in New Jersey, New York, Connecticut, and Pennsylvania. Since its inception, Onyx has acquired over $404 million in assets throughout the region. For more information on Onyx Equities, LLC, contact the firm at (732) 362-8800, or visit www.onyxequities.com.
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