Bridgewater, N.J. – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of Bridgewater Shops, a five-building, 41,589-square-foot retail property at 1300 Prince Rodgers Avenue in Bridgewater, N.J. for $8.2M. NAI James E. Hanson’s Team Lizzack-Horning, comprised of Darren Lizzack, MSRE and Randy Horning, MSRE, represented the seller, Cedar Hill Associates, LLC in the exclusive transaction.
Bridgewater Shops offers 41,589 square feet of highly adaptable retail space that is home to a variety of tenants, including PNC Bank, Edible Arrangements, Thai Kitchen, Wisteria Health and Y2 Academy. The property is located just off Interstate 287 with easy access to nearby Routes 22 and 202 as well as several retail and office complexes including Somerset Corporate Center, Bridgewater Commons and The Village at Bridgewater Commons.
“Well-located retail centers like Bridgewater Shops continue to present attractive investment opportunities with strong potential,” said Horning. “We’re thrilled to have been able to help our client secure high value for this asset, and we wish them all the best going forward.”
To help with the marketing and sale of the property, Team Lizzack-Horning leveraged Ten-X, an innovative online commercial real estate auction platform. The auction process allows brokers and sellers to generate a wide range of qualified leads and minimize the time it takes to close on commercial properties. Team Lizzack-Horning listed 1300 Prince Rodgers Avenue for auction and received and accepted an offer from the buyer before the Live Auction date. The auction process was instrumental in expediting the disposition of this asset as a result of all due diligence being completed in advance coupled with the fact the buyer’s offer was not subject to any financing.
Founded in 2014, Team Lizzack-Horning is an expert brokerage team that specializes in healthcare, office, and investment property transactions. Leveraging a holistic and analytical approach to working with clients, Team Lizzack-Horning’s expertise and experience are augmented by a trusted network of real estate service providers that help clients of any size navigate an increasingly complex healthcare real estate transaction process. Together, the team has successfully closed more than 80 deals over the past 24 months totaling more than $100 million.
To learn more about the auction process for selling commercial properties, please visit https://teamlizzackhorning.com/the-benefits-of-auctioning-commercial-property/.
To stay connected with NAI James E. Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook, X and LinkedIn.
