The Village at Bridgewater Commons at 600 Commons Way in Bridgewater — Courtesy: JLL
By Joshua Burd
Urban Edge Properties has completed its purchase of more than 92,000 square feet of upscale 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 tenant roster that is anchored by Summit Health, which operates a modern medical facility that opened 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 Bridgewater Commons, also benefits from its prime location bordering Route 22 and proximity 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 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.
