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4 Commerce Dr
Cranford, NJ 07016
Office Property For Sale
Investment Highlights
- Full building generator, basement storage, renovated lobby and bathrooms, 1 mile to downtown Westfield, and NJ transit train to Hoboken/Manhattan.
- Includes five tenants on the first floor with varying lease expirations until 2030, generating an additional $370K of annual income.
- Newly renovated 2nd and 3rd floors with substantial investment into optimizing workplace experience.
Executive Summary
Savills is pleased to offer for sale a high-quality Headquarters office building (the
"Property"), located at 4 Commerce Drive in Cranford, NJ.
The Property is predominantly occupied by Kiewit-Weeks Marine and is roughly 58,840
square feet in size on just under 4 acres of land, boasting ample parking with a ratio of
3.50 spaces per 1,000 square feet.
Ideal owner/user building or investment opportunity. Substantial discount versus replacement
cost. Highly desirable location. Potential sale-leaseback. Strong economic environment in NJ
"Property"), located at 4 Commerce Drive in Cranford, NJ.
The Property is predominantly occupied by Kiewit-Weeks Marine and is roughly 58,840
square feet in size on just under 4 acres of land, boasting ample parking with a ratio of
3.50 spaces per 1,000 square feet.
Ideal owner/user building or investment opportunity. Substantial discount versus replacement
cost. Highly desirable location. Potential sale-leaseback. Strong economic environment in NJ
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
58,840 SF
Building Class
A
Year Built
1984
Percent Leased
56%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
19,613 SF
Slab To Slab
9’
Building FAR
0.39
Lot Size
3.47 AC
Zoning
ROI-1
Parking
216 Spaces (3.67 Spaces per 1,000 SF Leased)
Amenities
- Food Service
Property Taxes
| Parcel Number | 03-00635-0000-00002-01 | Improvements Assessment | $150,000 |
| Land Assessment | $2,435,800 | Total Assessment | $2,585,800 |
Property Taxes
Parcel Number
03-00635-0000-00002-01
Land Assessment
$2,435,800
Improvements Assessment
$150,000
Total Assessment
$2,585,800
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