Veeco Process Equipment, a New York-based technological equipment manufacturing firm, acquired its 38,000-square-foot office building in Somerset, New Jersey from Belmont Properties LLC for almost $3.9 million, or about $102 per square foot.
The single-story building at 145 Belmont Dr. was delivered in 1980. It is located in an established corporate environment with neighboring tenants such as AT&T, Merrill Lynch, Nissan, & Mitsubishi. Veeco Process Equipment currently occupies space in the building, which it purchased to make room for expanding its business.
Douglas Twyman of Cassidy Turley represented the buyer, while Bruce Meringolo of Newmark Associates represented the seller.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with 3,000 professionals in 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $17 billion in 2010, manages 430 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.