Updated Oct 28, 2024
AVG Partners Acquires Office Property In Bridgewater, NJ For $260.6M
55 Corporate Drive, Bridgewater, NJ 08807
$260,600,000
$386/SF
Building Size
675,000 SF
Asset Type
Office
Closing
Jan 25, 2022
About this deal
AI
The office property located at 55 Corporate Drive in Bridgewater, NJ has been sold in a transaction. The property spans approximately 150 acres and is categorized as an office asset. The sale took place on 01/25/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $260,600,000
- Square Footage: 675,000
- Price per Square Foot: $386
- Address: 55 Corporate Drive, Bridgewater, NJ
- Market: Bridgewater, NJ
The buyer of the property is AVG Partners, and the seller is American Finance Trust. The transaction was facilitated by a team of brokers from CBRE including Jeremy Neuer, Jeffrey Dunne, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, Zach McHale, and Michael Monahan.
On the Map
$260,600,000
$386/SF
Office
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Players
Bridgewater Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93