Raritan Plaza III in Edison Trades

By Betsy Kraat

EDISON--Cushman & Wakefield, Inc.’s Metropolitan Area Capital Markets Group has orchestrated the sale of Raritan Plaza III, 105 Fieldcrest Ave. in Edison.

The Silverman Group of Short Hills purchased the 182,616-sf, Class A office building from Ivy Equities in one of the only non-institutional, stabilized office investment sales in the state this year.

Located on 13.5 acres at the entrance of Raritan Center, one of northern New Jersey’s largest mixed-use business parks, the six-story building is 96 percent occupied by 27 tenants. Institutionally owned and maintained throughout most of its 27-year history, Raritan Plaza III features a newly renovated main lobby and cafeteria as well as updated elevators, restrooms and corridors.

The Metropolitan Area Capital Markets Group maintains a long-standing relationship with Ivy Equities and its institutional capital partner, Urdang Capital Management, Inc., and was involved in the venture’s original purchase of Raritan Plaza III in 2002.