1125 Route 22 in Bridgewater — Courtesy: HFF
By Joshua Burd
Investors have acquired a 95,620-square-foot office building in Somerset County that is fully leased to a national bank and a regional health care provider, according to HFF.
The real estate services firm announced the deal Monday after marketing the property, located at 1125 Route 22 in Bridgewater, on behalf KBS Realty Advisors. HFF said it also procured the buyer, a partnership of Atkins Cos. and Capital Solutions Inc.
Terms were not disclosed. The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Stephen Simonelli and Michael Oliver and associate director Marc Duval.
“The property’s location and access to Route 22 and Interstate 287, as well as the new medical tenant with an extensive build-out, made this asset highly sought after by the investor community,” Cruz said in a prepared statement.
Consisting of two separate wings, the property is occupied by Bank of America and MidJersey Health Corp., a joint venture of Hunterdon Healthcare System and Atlantic Health System, HFF said in a news release. It has also undergone recent upgrades including improvements to its roof, landscaping, installation of a new building management system and a new parking lot.
The Atkins Cos. is a New Jersey-based development, investment and management organization specializing medical office buildings, the news release said. Capital Solutions is a real estate investment and private equity firm founded by Frank Seidman in 1991.
