350 Grove St. in Bridgewater — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has purchased a 16,000-square-foot medical office building in Bridgewater for nearly $2.5 million, brokers with Marcus & Millichap announced Thursday.
According to a news release, the property at 350 Grove St. is home to eight tenants and benefits from a location along Route 22. Those occupiers include Concentra Occupational Health, its anchor and a tenant since 2007, which specializes in occupational health, physical therapy and urgent care.
“Although the office market has been somewhat challenging over the last few years, we continue to see strong demand for quality assets in prime locations,” said Brent Hyldahl, a first vice president for investments with Marcus & Millichap’s New Jersey team. “With a robust anchor tenant and more than 103,000 vehicles passing the property daily, it’s no surprise that 350 Grove garnered significant interest from our investors. We are very happy to have completed the transaction for both the buyer and the seller.”
Brent Hyldahl and colleague Alan Cafiero represented the seller in the $2.45 million deal. The brokers, along with the firm’s Devin Perez, procured the buyer, HDJ Property.
