EDISON, N.J., Oct. 5, 2009 – Cushman & Wakefield, Inc.’s Metropolitan Area Capital Markets Group has orchestrated the sale of Edison Towne Corporate Centre, a three-building, mixed-use property located on Route 27 in Edison. The Morris Companies purchased the asset from Starwood Heller, LLC.
 
Located on 62 acres, Edison Towne Corporate Centre includes a 245,446-square-foot office building at 2147 Route 27; a 99,260-square-foot research and development building at 2121 Route 27; and a 140,000-square-foot warehouse building with additional, vacant land behind it at 55 Talmadge Road. The Morris Companies intends to redevelop the land parcel.
 
“This offering involved a unique combination of a mixed-use project with a value-added component and significant additional development potential,” noted Cushman & Wakefield’s Jose Cruz, who handled the assignment in conjunction with Metropolitan Area Capital Markets Group team members Andrew Merin, David Bernhaut and Gary Gabriel.
 
Edison Towne Corporate Center occupies a prime location, less than one mile south of Exit 2 of I-287. Route 27 provides access to Exit 131 of the Garden State Parkway to the north, and Route 18 to the south. I-287 intersects U.S. Route 1 and Exit 10 of the New Jersey Turnpike within three miles of the property.
 
“Superb accessibility has made the stretch of Route 27 extending from Edison Towne Corporate Centre up to I-287, and nearby on Route 1, a hotbed for redevelopments, attracting a wide array of industrial, office and retail users,” Merin noted. Edison Towne Corporate Centre is located along the Route 1 research and development corridor.
 
Based at Cushman & Wakefield’s East Rutherford, N.J., office, the Metropolitan Area Capital Markets Group specializes exclusively in real estate sales, joint ventures and financing in Northern New Jersey, Fairfield County, Conn.; and Long Island and Westchester County, N.Y. The team has completed more than $13.6 billion worth of transactions since 2000. Over the past four years, this included an average of more than $1.5 billion annually, reaching $2.7 billion in 2007.