Jeff Olson Of Urban Edge Properties Acquires Village At Bridgewater Commons From Steve Plenge For $54M

The retail property is located at 640 Commons Way in Bridgewater, with an acquisition price of $54,000,000. This property spans 92,000 square feet and has a price per square foot of $587. The asset includes notable tenants such as Chipotle, Shake Shack, and Summit Health, representing a favorable retail environment.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $54,000,000
• Square Footage: 92,000
• Address: 640 Commons Way
• Market: Bridgewater
• Buyer: Jeff Olson - Urban Edge Properties
• Seller: Steve Plenge - Pacific Retail Capital Partners
• Brokers: Jose Cruz, Kevin O’Hearn, J.B. Bruno & David Monahan - JLL
• Price per Square Foot: $587

Urban Edge Properties is under contract to acquire this retail center from Pacific Retail Capital Partners as part of PRCP’s wider strategy to renovate Bridgewater Commons and service debt from its mall acquisition.