Vantage Commercial Sells 100 Franklin Square in Somerset, NJ
106,000-SF REO office complex closes in just 88 days from listing
Vantage Commercial today announced the sale of 100 Franklin Square, a 106,600-square-foot, four-story mid-rise office complex in Somerset, New Jersey, for an undisclosed amount. The asset was listed by Vantage on behalf of Seller as a real estate-owned (REO) property. Following a competitive process with multiple qualified offers, Vantage guided ownership to the optimal buyer selection, achieving closing 88 days after the listing was signed.
The property was acquired by an owner-user planning to leverage the first-floor availability to expand local surgical centers, enhancing access to outpatient care in the market. Ken Richardson, Vice President & Partner at Vantage Commercial, guided the seller through multiple offers from developers, investors, and owner-users, with disciplined focus on funding certainty, deal terms, and probability of closing.
“This assignment demanded certainty of execution,” said Richardson. “Through disciplined underwriting, an organized data room, and proactive buyer engagement, our team delivered a competitive environment and a clean path to close.”
“Ken delivers. Within days we had qualified leads, and we closed our REO office sale in under three months—exceeding expectations.”
— Howard S.
Transaction Highlights
- Property: 100 Franklin Square, Somerset, NJ
- Size/Type: +/-106,600 SF, four-story mid-rise office
- Brokerage: Vantage Commercial — exclusive listing agent
- Buyer: Medical owner-user expanding surgical center footprint; leveraging first-floor vacancy
- Process: Multiple competitive offers from developers, investors, and owner-users; selection prioritized funding, terms, and closing probability
- Sale Price: Confidential
- Timeline: 88 days from listing execution to closing
