Bridgewater's Centerpointe office campus sold for 46 million

Elana Knopp//April 11, 2018//

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A four-building office campus in Bridgewater has been sold for $46 million by Virginia and New York-based investment firm American Real Estate Partners.A four-building office campus in Bridgewater has been sold for $46 million by Virginia and New York-based investment firm American Real Estate Partners.

CBRE Institutional Properties represented the seller and procured the buyer, Signature Acquisitions.

Located on Route 22, the CenterPointe portfolio consists of four Class A office buildings totaling more than 331,354 square feet.

The capital program instituted by the seller led to new deals with Allstate and PVH, among others, and has increased occupancy to 90 percent.

In addition, enhancements to the common areas, amenities and parking lot spurred leasing activity within the four-building park.

Since 2015, the property has completed more than 197,000 square feet of new leasing and more than 38,000 square feet of renewals.