A huge corporate campus in Somerset County that once served as the North American headquarters for Philips Electronics has been purchased by Axria Inc.

The buyer has plans to redevelop the four-story, 200,000-square-foot former headquarters office property, which sits on a 12.19-acre site on Franklin Square Drive in Franklin Township, according to a statement from JLL Capital Markets.

The sale price was not disclosed.

The building was renovated in 2016 and features parking for 750 vehicles.

The property is located with access to Interstate 287 and proximity to the New Jersey Turnpike and Interstate 78.

The property’s zoning allows for various commercial uses including office, medical, educational and light industrial, providing flexibility for the new owner’s redevelopment plans.

JLL

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