February 16, 2017 Comments Off on 200K-SF Office Sells in Somerset Views: 264 New York News, Tri-State Area New York

200K-SF Office Sells in Somerset

American Equity Partners bought One Grande Commons, a 200,000-square-foot office building at 440 Rt. 22 East in Bridgewater, NJ.

Seller Mack-Cali accepted an undisclosed price for the property, which has been consistently more than 90% occupied by companies including pharmaceutical, engineering and law firms.

“The purchaser recognized the opportunity to acquire a historically well-leased asset within an office market that has been particularly active as of recent, and plans to provide cosmetic and amenity improvements to further enhance its appeal,” said Gary Gabriel, executive vice president of the Metropolitan Area Capital Markets Group for Cushman & Wakefield, which orchestrated the sale.

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