Marcus & Millichap on Thursday announced it recently sold an eight-tenant medical office building in Bridgewater for $2.45 million.
Located at 350 Grove St. and situated along Route 22 with a daily traffic count of more than 103,000 vehicles, the 16,000-square-foot building is anchored by Concentra Occupational Health, a long-term tenant since 2007 that specializes in occupational health, physical therapy and urgent care. The property also houses a diverse mix of other medical and professional service providers.
“Although the office market has been somewhat challenging over the last few years, we continue to see strong demand for quality assets in prime locations. With a robust anchor tenant and more than 103,000 vehicles passing the property daily, it’s no surprise that 350 Grove garnered significant interest from our investors,” Brent Hyldahl, first vice president, investments, said. “We are very happy to have completed the transaction for both the buyer and the seller.”
Hyldahl and Alan Cafiero, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, SRV Realty. The buyer, HDJ Property, was procured by Hyldahl, Cafiero and Devin Perez.
