East Rutherford-based Cushman & Wakefield announced Friday it has arranged the sale of a four-story building in Bridgewater.
The property, located at 721 U.S. Highway 202/206 sits on nearly 16 acres and has over 200 feet of frontage along the highway.
Cushman & Wakefield said the 192,741 square foot asset was purchased by a local developer from Mack-Cali Realty Corp.
Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Frank DiTommaso of Cushman & Wakefield’s New Jersey capital markets team represented the seller and procured the buyer.
“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.”
Financial terms of the deal were not disclosed.
The property is also within close distance to the Bridgewater Commons Mall, “a built-in local amenity with over 175 stores and various restaurants,” DiTommaso said. “721’s fundamentals also provide flexibility for single or multi-tenant scenarios. 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.”