Colliers has completed the sale of CenterPointe I, a vacant 66,500-square-foot office property located at 1130 Route 22 E in Bridgewater. The property was sold for an undisclosed price to a nonprofit organization that will occupy the space.
The transaction is cited as evidence of robust demand from owner-user buyers in the suburban office market, as businesses seek to secure long-term control over their real estate assets.
“To navigate today’s shifting office market, many New Jersey companies are taking control of their real estate future—driving a surge in owner-user acquisitions,” Jacklene Chesler, vice chair, Colliers said. “As institutional investors pull back and property values soften, businesses are stepping in to secure long-term control and cost stability.”
CenterPointe I, previously occupied by Allstate Insurance Company, was deemed a “standout opportunity” due to its visibility and modern configuration within the highly active corporate corridor.
Situated in the Route 22 West Office Market, the property benefits from:
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Exceptional highway visibility and prime signage opportunities.
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Convenient access to key New Jersey markets.
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Proximity to major Fortune 500 companies such as Sanofi, Johnson & Johnson, and MetLife.
The Colliers team of Vice Chair Jacklene Chesler, Vice President Patrick Norris, and Transaction Manager Brittany Leventoff arranged the sale, representing the seller, Signature Acquisitions.
The sale of CenterPointe I further reinforces Colliers’ leadership in New Jersey’s investment and owner-user office sectors, emphasizing the firm’s ability to deliver tailored solutions for clients across the region.
