Strategic
Funding Alternatives, LLC (SFA), a privately held commercial real estate
investment firm, announced its acquisition of Windsor Corporate Center (WCC), a
four-building campus with a combined 291,550 s/f of Class A office space in Mercer
County, New Jersey.
CBRE brokered
the $26.24 million sale on behalf of the seller, Raith Capital, while also
procuring the buyer.
The firm’s
Jeffrey Dunne, Jeremy Neuer, Steven Bardsley, David Gavin, Gene Pride, Stuart
MacKenzie and Zach McHale worked with the leasing colleagues Adam Englander and
Carolyn Sica on the deal.
Located
on more than 39 acres of land at 50 Millstone Road in East Windsor, the complex
is approximately 65 percent occupied with a mix of national and international
companies.
It has access
to the New Jersey Turnpike, I-295 and other major roadways plus the Princeton
Junction Train Station. It is also in close proximity to many of the area’s
large industrial parks.
Existing
building amenities include a full-service cafeteria, auditorium, fitness center
and on-site storage with recent exterior and interior capital improvements. The
deal closed on June 8, 2020.
Jeffery
Schneider, SFA Managing Principal, commented, “It has certainly been a long few
months but we are so excited to be entering the Princeton/Mercer County market
with this new acquisition.
“WCC is
a beautiful campus with plenty of space, abundant parking and flexible office
configurations ~ perfect for those companies who may have industrial facilities
nearby but want Class A corporate offices.”
SFA has
plans for additional amenities and enhancements as part of its core focus on
optimizing undervalued properties.
Schneider
added, “We see this property as a strong addition to our portfolio and will be
reviewing offers to lease the building to both single and multi-tenant
prospects.”
Raith
Capital invested over $3m in capital while in ownership of the building which
led to raising the occupancy from 41 to approximately 70 percent today.
