An office and data center occupied by subsea cable maker Subcom is up for sale in New Jersey.
Marcus & Millichap is offering 250 Industrial Way West, Eatontown, for sale with a triple net (NNN) lease tenant in place. The listing price is $33.9 million.
Set on just over 10 acres in Monmouth County, the two-story property is described as a 138,000 sq ft (12,820 sqm) build-to-suit data center and office.
The site includes a data center, office space, and R&D laboratories. Specifications of the data center weren’t shared, but it is described in a sales brochure as “large” and featuring two backup generators.
The site is occupied by submarine cable firm Subcom. Founded in 1955, the company engineers, manufactures, and installs subsea fiber optic data cables. It was acquired by Cerberus Capital in 2018 from Tyco, which had acquired AT&T’s cable laying operations in 1997.
The company has occupied the building since 1999, and recently signed a 5-year lease extension commencing in October 2024.
Real estate investment firm SMB Bradley previously owned the property, but sold it in 2019 to an unknown buyer. At the time, Subcom was contracted to the property until 2024. RIPCO Real Estate was tapped in late 2021 to sell the property again.
