This project is a four-story commercial property located in a high-demand submarket of New Jersey. The property, which was formerly the Philips EC Headquarters, was acquired through a competitive auction process for $10 million. The asset spans 194,680 square feet and sits on 12.19 acres, offering 750 parking spaces. The site has strong regional connectivity, being located less than 1.5 miles from I-287, and is near Newark International Airport and the Port of New York & New Jersey. The property is positioned as a value-add opportunity with significant upside potential through repositioning, lease-up, or redevelopment. The total equity for the project is $10 million, with an equity raise of $4 million. The projected returns are a 48% return over 24-30 months, with a 1.48x MOIC.