New York Life Real Estate Investors and its client have sold The Offices at Bedminster, a two-building, class A, institutionally-maintained office complex totaling 194,000 square feet in Bedminster, N.J.
“Despite these very challenging economic times, we are seeing buyers make long-term investment decisions on office assets in the northern and central New Jersey market,” stated Jose Cruz, senior managing director at JLL Industrial Capital Markets, which represented the seller. “The quality, location and strong tenant base of the asset were the main reasons for the high level of interest in The Offices at Bedminster.”
The financial terms were not disclosed.
An affiliate of Northeast Capital Group purchased the asset.
Situated on nearly 16 acres at 500 and 550 Hills Drive, the property is in Somerset County near the intersection of Interstates 78 and 287, two of the region’s main highways providing unmatched access. The complex is also along Route
