721 Route 202/206 in Bridgewater — Courtesy: Cushman & Wakefield
By Joshua Burd
Mack-Cali Realty Corp. has sold a nearly 193,000-square-foot office building in Bridgewater to Edgewood Properties, in a newly announced deal by Cushman & Wakefield.
Brokers with the firm said the property, 721 Route 202/206, is a four-story complex with more than 200 feet of frontage along the busy highway. Sitting on nearly 16 acres, the building has a history of near-full occupancy, but is being delivered vacant.
The Cushman & Wakefield investment sales team of Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Frank DiTommaso represented Mack-Cali and procured the buyer, with support from leasing specialists Bill Brown and Shawn Straka. HFF’s Jose Cruz represented Edgewood.
Terms were not disclosed.
“The opportunity to reposition roughly 200,000 (square feet) on 16 acres with frontage generated a significant amount of interest,” Gabriel said. “Bridgewater has historically attracted major employers, specifically within the tech and pharma industries, given its regional accessibility and access to talented labor — it continues to prove itself as one of the more dynamic markets in suburban New Jersey.”
In a news release, C&W touted the recent activity around the site, including a development pipeline that includes a Life Time Fitness, AC Hotels and Zinburger at the nearby Somerset Corporate Center. The property is also less than two miles from the Bridgewater Commons mall.
“721’s fundamentals also provide flexibility for single or multi-tenant scenarios,” DiTommaso said. “The property offers convenient wraparound parking with entrances on all sides, oversized floor-ceiling glass windows, and features unique enclosed glass walkways overlooking the outdoor amenity space.”