NAI DiLeo-Bram has successfully represented another client in a building acquisition. This time announcing the purchase of the 132,000 square foot office building at 20 Knightsbridge Road, Piscataway, NJ, for $6,850,000 by HORIBA Instruments Incorporated. The Seller was AT&T Corp.
The sale of 20 Knightsbridge Road adds to the recently closed sales of two other buildings in Somerset and Cranford comprising 242,000 sf with an aggregate combined price of over $14 Million. The HORIBA transaction was handled by NAI DiLeo-Bram brokers Robert Dinner and Christopher Galiano, SIOR.
The HORIBA Scientific business unit currently located in Edison, NJ, will retrofit and occupy the building for the development and manufacturing of highly technical instruments which perform optical research and measuring analysis. An on-site solar energy panel system services a major portion of the building for significantly reduced energy costs. Headquartered in Kyoto, Japan, HORIBA manufactures technical measuring and monitoring systems equipment for the automotive, environmental, medical diagnostics, semiconductor and scientific optical analyzers industries.
“Many firms in need of space are purchasing buildings to take advantage of the current real estate market and financing conditions for retrofit and long term occupancy to control occupancy costs and obtain future appreciation”, according to Robert Dinner, Executive Vice Present.