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High-Occupancy Office with Stable Cash Flow 371 Hoes Ln 96% Leased Office Building Online Auction Sale Piscataway, NJ 08854
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Investment Highlights
- 371 Hoes Lane is a 133,609-square-foot Class A office investment leased at 96% with strong in-place cash flow and upside in Piscataway.
- Fully renovated in 2020, the three-story building features a glass atrium, modern lobby, upgraded corridors, and quality finishes throughout.
- Solar power, EV charging, landscaped grounds, decorative lighting, and basement storage enhance efficiency and long-term tenant appeal.
- Direct access to Route 18 and Interstate 287 places 371 Hoes Lane minutes from the NJ Turnpike, Garden State Parkway, and regional transit.
- Amenities include ample parking, a full-service café, lounge with Wi-Fi and pool tables, and a new fitness center with locker rooms and classes.
- Near Rutgers University, major employers, and top retailers, the location draws from a deep, educated workforce in a tight office submarket.
Executive Summary
Leased at 96% with strong in-place cash flow and upside, 371 Hoes Lane is a 133,608-square-foot Class A office investment in Piscataway.
Direct access to Route 18 and Interstate 287 places 371 Hoes Lane minutes from the New Jersey Turnpike, Garden State Parkway, and regional transit. Fully renovated in 2020, the three-story building features a glass atrium, modern lobby, upgraded corridors, and quality finishes throughout. Tenant amenities include ample parking, a full-service café, a lounge with Wi-Fi and pool tables, and a new fitness center with locker rooms and classes. Solar power, EV charging, landscaped grounds, decorative lighting, and basement storage enhance efficiency and long-term tenant appeal. Near Rutgers University, major employers, and top retailers, the location draws from a deep, educated workforce in a tight office submarket.
The three-story building stands out with its gray glass-curtain wall, dramatic open atrium with glass elevators, and basement storage. Recent and ongoing capital improvements include new clear exterior window paneling, a redesigned lobby with upgraded flooring, wall coverings, lighting, directory, and furnishings, a new double-glass entry, and refreshed landscaping. Tenants benefit from a full-service café with lounge seating and a new fitness center with men’s and women’s locker rooms. Currently 96% leased, the property offers immediate in-place income supported by a diverse tenant mix spanning professional services, healthcare, accounting, technology, and other industries. One remaining vacancy also gives investors the opportunity to grow net operating income through lease-up at market rates.
371 Hoes Lane benefits from a highly strategic location in the heart of Piscataway, offering strong regional connectivity and everyday convenience. The property provides immediate access to Interstate 287 and is just 10 minutes from the New Jersey Turnpike and Garden State Parkway, allowing for efficient travel throughout Central New Jersey and the broader tri-state region. Newark Liberty International Airport is approximately 45 minutes away, adding further convenience for business travel and visiting clients. Just as important, the surrounding area enhances the property’s appeal with nearby hospitality options, Raritan Landing Golf Course, and a broad mix of national retailers and dining destinations, including Target, Chick-fil-A, Walmart Supercenter, Olive Garden, and Aldi. Its central location near Rutgers University and major employment hubs also reinforces access to a deep and educated workforce, making the campus well-positioned to attract and retain a diverse range of tenants.
371 Hoes Lane presents a compelling acquisition opportunity for investors seeking stable cash flow, quality tenancy, and future upside.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Direct access to Route 18 and Interstate 287 places 371 Hoes Lane minutes from the New Jersey Turnpike, Garden State Parkway, and regional transit. Fully renovated in 2020, the three-story building features a glass atrium, modern lobby, upgraded corridors, and quality finishes throughout. Tenant amenities include ample parking, a full-service café, a lounge with Wi-Fi and pool tables, and a new fitness center with locker rooms and classes. Solar power, EV charging, landscaped grounds, decorative lighting, and basement storage enhance efficiency and long-term tenant appeal. Near Rutgers University, major employers, and top retailers, the location draws from a deep, educated workforce in a tight office submarket.
The three-story building stands out with its gray glass-curtain wall, dramatic open atrium with glass elevators, and basement storage. Recent and ongoing capital improvements include new clear exterior window paneling, a redesigned lobby with upgraded flooring, wall coverings, lighting, directory, and furnishings, a new double-glass entry, and refreshed landscaping. Tenants benefit from a full-service café with lounge seating and a new fitness center with men’s and women’s locker rooms. Currently 96% leased, the property offers immediate in-place income supported by a diverse tenant mix spanning professional services, healthcare, accounting, technology, and other industries. One remaining vacancy also gives investors the opportunity to grow net operating income through lease-up at market rates.
371 Hoes Lane benefits from a highly strategic location in the heart of Piscataway, offering strong regional connectivity and everyday convenience. The property provides immediate access to Interstate 287 and is just 10 minutes from the New Jersey Turnpike and Garden State Parkway, allowing for efficient travel throughout Central New Jersey and the broader tri-state region. Newark Liberty International Airport is approximately 45 minutes away, adding further convenience for business travel and visiting clients. Just as important, the surrounding area enhances the property’s appeal with nearby hospitality options, Raritan Landing Golf Course, and a broad mix of national retailers and dining destinations, including Target, Chick-fil-A, Walmart Supercenter, Olive Garden, and Aldi. Its central location near Rutgers University and major employment hubs also reinforces access to a deep and educated workforce, making the campus well-positioned to attract and retain a diverse range of tenants.
371 Hoes Lane presents a compelling acquisition opportunity for investors seeking stable cash flow, quality tenancy, and future upside.
Property tours are available by appointment only. Please contact the listing broker to schedule.
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1989/2020
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
44,536 SF
Lot Size
8.92 AC
Parcel Number
17-06003-0000-00013
Zoning
BP1 - Business
Parking
70 Spaces (0.52 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Atrium
- Controlled Access
- Concierge
- Fitness Center
- Food Service
- Property Manager on Site
- Restaurant
- Storage Space
- Shower Facilities
- Wi-Fi
- Outdoor Seating
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
The three-story property spans 133,608 square feet and boasts a glazed grey glass curtain wall, an inviting three-story open atrium with glass elevators, and basement storage.
| Space | Size | Space Use | Build-Out | Available |
| 3rd Floor | 5,987 SF | Office | Full Build-Out | Now |
3rd Floor
| Size |
| 5,987 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
3rd Floor
| Size | 5,987 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
The three-story property spans 133,608 square feet and boasts a glazed grey glass curtain wall, an inviting three-story open atrium with glass elevators, and basement storage.
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
4,021
93,124
314,386
2020 Population
3,874
88,304
305,110
2030 Population
4,173
96,963
326,066
2025-2030 Projected Population Growth
3.8%
4.1%
3.7%
Daytime Employees
8,778
44,124
134,539
Total Businesses
632
4,183
14,891
Average Household Income
$171,873
$139,149
$133,412
Median Household Income
$154,357
$114,804
$107,499
Total Consumer Spending
$47.4M
$1.1B
$3.7B
Median Age
34.4
37.8
37.1
2025 Households
1,056
30,826
103,810
Percent College Degree or Above
27%
28%
23%
Average Home Value
$556,295
$520,552
$521,237
Sale Advisors
Sale Advisors
Jeremy Neuer, Senior Managing Director, Investment Sales
Jeremy Neuer is a Senior Managing Director for JLL's Suburban Tri-State Capital Markets Team where he focuses on office buildings in the New Jersey, NY State and Connecticut markets. He joined JLL in October 2022.
After an 18-year leasing career, he transitioned to investment sales in 2017 to leverage his unique experience with respect to the workplace and how buildings need to change to meet the needs of modern occupiers. His success in leasing, on both the tenant and landlord side, gives him a distinct perspective to drive asset value and provide comprehensive advisory to owners and investors.
He has been involved in some of the most prolific sales in New Jersey including:
- Park Avenue at Morris County, Florham Park - $311,000,000
- Continental Plaza, Hackensack - $123,000,000
- Park 80 West, Saddle Brook - $115,500,000
- American Metro Center, Hamilton - $84,700,000
He is also considered a thought leader in the CRE Tech space and has acted as an angel investor to several well-known tech startups.
After an 18-year leasing career, he transitioned to investment sales in 2017 to leverage his unique experience with respect to the workplace and how buildings need to change to meet the needs of modern occupiers. His success in leasing, on both the tenant and landlord side, gives him a distinct perspective to drive asset value and provide comprehensive advisory to owners and investors.
He has been involved in some of the most prolific sales in New Jersey including:
- Park Avenue at Morris County, Florham Park - $311,000,000
- Continental Plaza, Hackensack - $123,000,000
- Park 80 West, Saddle Brook - $115,500,000
- American Metro Center, Hamilton - $84,700,000
He is also considered a thought leader in the CRE Tech space and has acted as an angel investor to several well-known tech startups.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Pace Zambito
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
-
POWER BROKER Jeremy Neuer -
POWER BROKER Michael Kavaler -
JLL
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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High-Occupancy Office with Stable Cash Flow | 371 Hoes Ln
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