460 Milltown Road in Bridgewater — Courtesy: Avison Young
By Joshua Burd
The new owner of a Bridgewater industrial building plans to convert the property to an indoor athletic training center, following a sale arranged by brokers with Avison Young.
The real estate services firm on Wednesday said it represented FCI Properties in the sale of 460 Milltown Road, a 46,000-square-foot complex. Jeffrey Heller, Avison Young’s principal and managing director in New Jersey, said the column-free facility has served as an indoor tennis club since it was built, but will soon feature indoor soccer fields and other training facilities for an existing base and new young athletes.
Terms were not disclosed.
The Avison Young team representing the seller include Senior Vice President Matthew C. Turse, Senior Vice President Timothy J. Cadigan and Associate John Recchia. In a news release, they pointed to continued demand for recreational centers in the region and the opportunity to convert former industrial facilities.
“Our Avison Young New Jersey team was the most suitable resource to market this facility because of our overall expertise and deep user and investor relationships in the northern New Jersey region,” Turse said in a prepared statement. “We were pleased to represent FCI Properties in this deal and look forward to expanding our work with the buyer who has also retained Avison Young Property Management Services to maintain the property and the grounds.”