Robbinsville, N.J. (November 2, 2021) – NAI Fennelly announces it has negotiated the reacquisition of a 23,000-square-foot office condo at 1 Union Street in Robbinsville, N.J. NAI Fennelly President Jerry Fennelly, SIOR represented the property’s owner, Sharbell Development, and CBRE represented the seller, the American Heart Association in the transaction.
NAI Fennelly was previously selected by Sharbell Development in 2000 to market office space for sale or lease in its newly constructed 72,000-square-foot office building. Through a marketing strategy that highlighted the property’s location in downtown Robbinsville and superior accessibility, NAI Fennelly was able to negotiate the sale of a full-floor, 23,000-square-foot office condo to serve as a new office for the American Heart Association.
However, the organization’s changing needs meant that their office space needs shrank over time, and they hired NAI Fennelly to represent them in the sale of half of the condo back to Sharbell Development in 2020. In 2021, the American Heart Association decided to sell the remaining space in their condo. However, this time, NAI Fennelly’s experience with the property was leaned on by Sharbell Development to negotiate the reacquisition of the American Heart Association’s remaining space.
“Although repeat business is common in this industry, you are rarely brought in to represent different sides of a transaction over twenty years apart,” said Fennelly. “However, this reacquisition showcases how we are uniquely trusted by buyers and sellers alike to bring even the most complicated deals across the finish line in central New Jersey.”