CB RICHARD ELLIS BROKERS $13 MILLION SALE OF PRINCETON COMMERCE CENTER

PRINCETON, N.J. — Jeffrey Dunne, Kevin Welsh and Jeffrey Oram of CB Richard Ellis’ New York Institutional Group have brokered the $13 million sale of Princeton Commerce Center, a 7-unit, single-story office complex in Princeton. Oestreicher Properties purchased the 70,985-square-foot building from Commerce Center at Princeton, LLC. Located at 29 Emmons Dr., the property is situated on 8.57 acres and contains a 5.1 per 1,000-square-foot parking ratio. Dunne, Welsh and Oram represented the seller and procured the buyer in the transaction. The sale was a 1031 exchange.