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C&W Brokers Trade of CenterPointe at Bridgewater in Bridgewater, N.J.

| August 5, 2015 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.CenterPointe
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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High-Demand Offering Draws Nearly 30 Tours to Class A Office Campus

BRIDGEWATER, N.J., Aug. 4, 2015 – CenterPointe at Bridgewater has traded from subsidiaries of MetLife to American Real Estate Partners, following a high-demand offering orchestrated by Cushman & Wakefield’s Metropolitan Area Capital Markets Group. The commercial real estate services firm conducted nearly 30 tours of the 332,000-square-foot, four-building office campus.

Located on Route 22 in Bridgewater Township, CenterPointe at Bridgewater came to market approximately 65 percent occupied. “This property is considered to be one of the best-quality assets in the I-78 Corridor submarket, and its current occupancy offers a new owner a unique opportunity to capitalize on the improving market.” noted Cushman & Wakefield’s David Bernhaut, who represented the seller and procured the buyer with team members Andrew Merin, Gary Gabriel, Brian Whitmer, and Kyle Schmidt. “We saw interest from the full spectrum of investor types, all of which recognized the opportunity at hand.”

Developed by Advance Realty and since owned by Glenborough Realty Trust, Normandy Real Estate Partners and subsidiaries of MetLife, the park has been well maintained and offers immediately inviting curb appeal with timeless brick exteriors and granite-laden interiors. Individual buildings are less than 100,000 square feet and are easily divisible, making its boutique, campus-like atmosphere amenable to tenants of all sizes.

“Ultimately, American Real Estate Partners purchased an institutional-quality park with a diverse tenant roster,” Schmidt noted. “Already, the firm is aggressively pursuing new tenants, leveraging the asset’s strong location, and access to skilled labor and executive housing.”

Bridgewater and its surrounding communities have long been home to the Who’s Who of pharmaceutical, insurance and communications firms, attracted to the area by its central location and highly educated workforce. Within this context, CenterPointe at Bridgewater sits just off I-287 Exit 17 (South) and Exit 14 (North), offering a 40-minute commute from New York City and eastern Pennsylvania.

Based in East Rutherford, New Jersey, Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Connecticut, Pennsylvania, and Delaware. The team has completed more than $17 billion worth of transactions since 2000, closing on $1.2 billion in 2014.

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