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Cranbury Executive Center | High Occupancy 1249 S River Rd

100,056 SF 96% Leased Office Building Online Auction Sale Cranbury, NJ 08512

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Virtual Tour

INVESTMENT HIGHLIGHTS

  • High-occupancy office with a variety of professional tenants and staggered lease terms, allowing new ownership future avenues for higher NOIs.
  • Close to the New Jersey and Pennsylvania border casting a broad net for employees and tenants from Philadelphia, New York, and beyond.
  • Area demographics are noteworthy with a population in a 10-mile radius making average household incomes of over $148,000 yearly.
  • Positioned with tenants and businesses in mind, northeast of Princeton off Interstate 95 with access to Route 130.
  • New solar panels were installed in the parking lot in 2022 with a 25-year lease agreement adding significant value to the office.

EXECUTIVE SUMMARY

Cranbury Professional Center is the ideal investment just outside of Princeton, New Jersey. Cranbury Executive Center is located on a professionally landscaped 10-acre lot and was constructed in 2007. This multi-tenant office property comes equipped with three stories. The building’s exterior design offers brick veneer with bronze window systems. The interior features a two-story vestibule on both the north and south elevations. The lobby entrances are finished with ceramic floors, carpeted hallways, and vinyl wall-covered common areas. The building's center core design has two elevators and common area restrooms per floor. A 25-year lease agreement was signed in early 2022 for installation of raised solar panels throughout the parking lots which will increase revenue and NOI substantially. The property has several other impressive features, such as on-site food service offering breakfast, lunch, and catering, approximately 400 parking spaces, and pylon signage on River Road with multiple tenant names. The property is currently 96% occupied by a variety of tenants in this professional business setting. Many have historical occupancy on site, creating a solid investment for new ownership. The lease terms are staggered, allowing buyers to strategically plan for the future of this asset.
This office property benefits as a part of the larger Brunswick West Office Submarket. Brunswick West contains 10.9 million square feet of inventory, compared to 976 million square feet of inventory metro-wide. Rents have changed by an impressive 1.2%. Over the past year, six office properties traded in Brunswick West, accounting for 90,000 square feet of inventory turnover. Office sales volume in Brunswick West has totaled $10.1 million over the past year. The average annual sales volume over the past five years is $24.9 million, and $68.6 million over the past 10 years.

Cranbury Executive Center is also a part of the greater New York office landscape. One of the area’s strengths is its diversity in economic makeup. No single industry commands a majority share in employment, which protects the economy during a downturn. Outside of tech and finance, other notable industries include the legal, healthcare, hospitality, and retail sectors. The tech sector has been rapidly growing since 2010. Major tech firms with a sizable presence include Google, Amazon, X (formerly known as Twitter), Meta, and Spotify. Startups are a growing part of the tech ecosystem.

Cranbury Executive Center is located at 1249 South River Road, Cranbury, New Jersey. The location is just minutes from Exit 8A off the New Jersey Turnpike/Interstate 95, which quickly connects to major nearby metros. Cranbury has many distributions close to the asset because of its strategic location off of Interstate 95. The Home Depot, Wayfair, Amazon, Crate & Barrel, Barnes & Noble, and Williams Sonoma are some of the big names in this corridor.

Property tours are available by appointment only. Please contact the listing broker to schedule.

OFFERING MEMORANDUM Click Here to Access

DATA ROOM Click Here to Access

MARKET ANALYTICS Click Here to Access

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Market Sale Price per SF

New York - NY USA

Market Cap Rate

New York - NY USA

Market Sale Price per SF by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Cap Rate by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Sale Price per SF Distribution

Market Cap Rate Distribution

PROPERTY FACTS

Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Size
100,056 SF
Building Class
A
Year Built
2007
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
33,352 SF
Slab To Slab
14’
Building FAR
0.23
Lot Size
10.00 AC
Zoning
Office - Office
Parking
400 Spaces (4 Spaces per 1,000 SF Leased)

AMENITIES

  • Food Service

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Fl-Ste 110
  • 1,237 SF
  • Office
  • -
  • Now

$2.00/sf Tenant Electric

  • 2nd Fl-Ste 201
  • 2,506 SF
  • Office
  • Full Build-Out
  • Jun 2025
Space Size Space Use Condition Available
1st Fl-Ste 110 1,237 SF Office - Now
2nd Fl-Ste 201 2,506 SF Office Full Build-Out Jun 2025

1st Fl-Ste 110

Size
1,237 SF
Space Use
Office
Condition
-
Available
Now

2nd Fl-Ste 201

Size
2,506 SF
Space Use
Office
Condition
Full Build-Out
Available
Jun 2025

1st Fl-Ste 110

Size 1,237 SF
Space Use Office
Condition -
Available Now

$2.00/sf Tenant Electric

2nd Fl-Ste 201

Size 2,506 SF
Space Use Office
Condition Full Build-Out
Available Jun 2025

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2024 Population
477
29,222
100,689
2020 Population
596
28,888
99,567
2029 Population
450
29,037
100,112
2024-2029 Projected Population Growth
-5.7%
-0.6%
-0.6%
Daytime Employees
9,705
24,890
45,849
Total Businesses
319
1,710
3,900
Average Household Income
$75,435
$128,469
$137,613
Median Household Income
$60,937
$90,518
$109,935
Total Consumer Spending
$7.7M
$483.1M
$1.5B
Median Age
73.4
60.3
45.4
2024 Households
305
13,280
39,252
Percent College Degree or Above
19%
26%
30%
Average Home Value
$221,992
$441,380
$470,448

ZONING

Zoning Code Office (Office)
Office (Office)

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
02-00001-0000-00004
Land Assessment
$1,500,000
Improvements Assessment
$8,736,100
Total Assessment
$10,236,100

SALE ADVISOR

SALE ADVISOR

(848) 244-4453
Contact
Mario Chiarella, Senior Vice President - Manager
(848) 244-4453
Contact
Mario Chiarella serves as Manager of Weichert Commercial Brokerage, Inc’s, Central New Jersey office located in Edison.

With over 21 years of experience in the real estate industry, Chiarella oversees the office, industrial, land, retail and investment divisions of Weichert Commercial’s Edison office and is responsible for the management and operation of those divisions. In September 2010, Chiarella was promoted from Vice President to Senior Vice President. Prior to being named Manager, Chiarella served as Vice President since joining Weichert Commercial in 2005.

Prior to joining Weichert Commercial, Mr. Chiarella worked for Dickstein Real Estate Services and Paramount Realty Services.

Mr. Chiarella was lead member of a team that in 2011 negotiated one of the largest office leases in Weichert Commercial’s history.

ABOUT THE AUCTION PLATFORM

Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More

AUCTION CONTACT

Kevin Loudy
Auctioneer License: Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
  • Listing ID: 34773999

  • Date on Market: 2/20/2025

  • Last Updated:

  • Address: 1249 S River Rd, Cranbury, NJ 08512

Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount Transaction Fee
$0m to < $1m 5.00% ($20,000 min)
$1m to < $3m 3.00%
$3m to < $5m 2.50%
$5m to < $10m 2.25%
$10m to < $15m 2.00%
$15m to < $25m 1.75%
$25m to < $35m 1.50%
$35M to < $45M 1.00%
$45M to < $55M 0.75%
$55M and Up 0.50%
Example Calculation
Winning Bid Amount $4,000,000 Transaction Fee $100,000 (2.5%) Total Purchase Price $4,100,000

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