6W Chimney Rock Road in Bridgewater — Courtesy: Denholtz Properties
By Joshua Burd
Denholtz Properties has acquired a 26,000-square-foot industrial building in Bridgewater, adding to its footprint in a large commercial complex along Route 22.
The building, located at 6W Chimney Rock Road, is fully leased to UPS and serves as a truck maintenance facility and customer care center. With the acquisition, Denholtz now owns 12 of 16 buildings within the 380,000-square-foot Bridgewater Business Park, with a portfolio that spans 290,163 square feet.
Its purchase of 6W Chimney Rock Road was financed by Provident Bank, as part of an overall refinancing of Denholtz Properties’ Bridgewater Business Park portfolio.
“Somerset County’s strong demographics and highway accessibility continue to make it one of the state’s most attractive flex markets,” said Stephen Cassidy, president of Denholtz Properties. “Through the acquisition of this fully stabilized asset, we have successfully grown our presence in this in-demand market and have positioned this portfolio for continued long-term strength over the coming years.”
Denholtz’s Kristine B. Hurlbut represented the firm in-house, while Marcus & Millichap represented the seller in the transaction.