CBRE, Inc. (“CBRE”) has been retained as the exclusive advisor for 100% of the fee interest sale of 1467 Route 31 in Annandale, New Jersey (the “Property”). The Property is located within Hunterdon County, with over 700’ of frontage on Route 31. The offering consists of one municipal tax lot totaling approximate 10.44 acres, occupied by a ±105,074 SF office building.
The vacant Property is well positioned to capture user demand due to its attractive curb appeal, in a professional setting, surrounding affluent population base, as well as local and regional access to a highly skilled and diverse labor force. The locational value is further enhanced by its direct proximity to Route 31 and easy access to Interstate 78.
This offering provides an investor the opportunity to execute a value-add repositioning strategy for a well-located Hunterdon County building. 1467 Route 31 was institutionally built in 1999 as a single tenant research and development facility occupied by Ingersol Rand for office/lab use. Most recently purchased in 2022, with plans to convert the prior labs to storage while taking advantage of the top floors of office, the building will require significant renovations to revert to its original lab/office configuration. The building offers two passenger elevators with freight and loading capabilities, open floor plans to accommodate individual workstations, conference rooms, and private offices. The building also featured a full-service café, a library, a fully equipped fitness center, and provides ample surface parking today.