Page 10 - RE-NJ

Courtesy: SAGE Real Estate Advisors
Courtesy: JLL
8 MAY 2026
T H E
B R I E F I N G
SAGE: WOODMONT SELLS HOPEWELL
RENTAL PROPERTY FOR $116 MILLION
Woodmont Properties has sold a
new 300-unit luxury apartment
community outside Princeton
for nearly $116 million, brokers
100 Forge Circle in Hopewell Township
PRCP CLOSES $54 MILLION SALE OF
BRIDGEWATER LIFESTYLE CENTER
Urban Edge Properties has
completed its purchase of more
than 92,000 square feet of upscale
tenant roster that is anchored by
Summit Health, which operates a
modern medical facility that opened
retail space in Bridgewater, in a
$54.3 million deal arranged by JLL.
The listing team, which represented
Pacific Retail Capital Partners in
the sale, said the property at 600
Commons Way has grown into
one of the state’s most desirable
fast-casual food and beverage
destinations. That’s thanks to a
in a newly redeveloped building in
2024, along with fast-casual users
such as Starbucks, Shake Shack,
Cava, Chipotle and Big Chicken.
The Village at Bridgewater
Commons, which is directly next
to the Bridgewater Commons mall,
also benefits from its prime location
bordering Route 22 and proximity
The Village at Bridgewater Commons at 600 Commons Way in Bridgewater
with SAGE Real Estate Advisors
announced.
According to a news release, a
national multifamily owner and
operator acquired the Hopewell
Township property in what the
listing team called a significant
benchmark for the submarket. That
comes two years after Woodmont
opened the complex at 100 Forge
Circle and just south of Interstate
295, offering a
collection of one-
and two-bedroom
floorplans and
upscale amenities
across three-
and four-story
buildings.
Livingston-based
SAGE, led by Steve
Tragash and Greg
Pine, represented
both the seller and
the undisclosed
buyer in the
to Route 202/206 and Interstate 287,
according to a news release. That
equates to combined traffic counts
of more than 247,000 vehicles per
day, the brokers said, adding that
the center is 98 percent occupied
with a weighted average lease term
of 7.4 years.
“The sale of
The Village at
Bridgewater
Commons
demonstrates
the strong
investor
appetite for
well-positioned
Kevin O’Hearn
$115.75 million deal. The firm noted
that the former Woodmont Forge,
now known as One Hundred Forge,
enjoyed a strong response from the
market and reached full occupancy
by mid-2025.
Located on 23 acres, the property
is just eight miles from downtown
Princeton and has amenities such
as a swimming pool with a sundeck,
a modern fitness center, a theater
room and a resident lounge with
conference and event spaces,
the news release said. The pet-
friendly site also has walking paths,
a garden, outdoor terraces and
electric vehicle charging stations.
SAGE announced the deal while
noting that it follows last year’s
$42.95 million sale of Woodmont
Liberty Apartments in Independence
Township. Tragash and Pine also
arranged that transaction on the
developer’s behalf and procured the
buyer.
retail assets in high-barrier-to-
entry locations with exceptional
demographics,” said Kevin O’Hearn,
a senior managing director with JLL,
who arranged the deal alongside the
firm’s JB Bruno and Jose Cruz.
The team noted that The Village
at Bridgewater Commons, which
spans 92,461 square feet across
12.5 acres, has experienced 14
percent growth in annual visits over
the past 12 months, while the 1.2
million-square-foot super regional
mall next door ranks within the top
3 percent of all shopping centers
in the United States by visits.
Bridgewater Township, meantime, is
one of the wealthiest municipalities
in New Jersey and serves as both
a suburban bedroom community
for New York City commuters and
the regional commercial hub for
Somerset County.
The open-air center serves an
affluent trade area with a population
of 130,066 within five miles and
an average household income of
$182,841, JLL said.
“The property’s dominant tenant
mix, particularly its concentration
of best-in-class food and beverage
concepts, combined with the
stability of the Summit Health
medical anchor, make it an
ideal acquisition for Urban Edge
Properties,” said Bruno, a senior
director with JLL.