CBRE announced the sale of American Metro Center (AMC) in Hamilton for $84,700,000. The team including Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Zach McHale of CBRE Institutional Properties represented the seller and also procured the buyer, The Birch Group. The CBRE leasing team of Adam Englander and Matt Saker assisted in the sale process.
AMC is one of the most unique buildings in the Central New Jersey market. Previously used by American Standard as a manufacturing facility, this adaptive re-use utilizes the historic design features including exposed brick, high ceilings and expansive windows and skylights to attract tenants. Situated adjacent to the Hamilton Train Station, occupancy has been driven by the confluence of design, amenities, access to rail and highly efficient space. The building also benefits from being a part of the Princeton submarket, one of the state’s strongest. These attributes, coupled with the leasing success, spurred the interest of The Birch Group.
“From the first time I walked the building, I was intent on acquiring this unique asset. I look forward to building on AMC’s past success by enhancing the amenity offerings and driving future leasing,” said Mark Meisner, principal of The Birch Group.
“This is our second deal with The Birch Group,” commented Dunne. “Mark also purchased 350-360 Mt. Kemble from our team in 2018 and we anticipate many more. Mark worked hard to get over the finish line and we are confident he will be successful at AMC.”
“This is a truly special asset and Mark recognized that immediately,” added Neuer. “The tenants love the natural light, exposed brick and modern amenities. Today’s tenants crave unique buildings and spaces as they use their space to attract and retain talent.”
CBRE Institutional Properties has a number of attractive investment opportunities on the market including: Park Avenue at Morris County in Florham Park, a 1.2m± square-foot trophy, Class A office complex; 520 White Plains Road in Tarrytown, New York, a 92 percent leased 171,888± square-foot office building minutes from the new Mario Cuomo Bridge (formerly Tappan Zee Bridge); 800 Connecticut Avenue, a 412,231± square-foot, value-add, office building in Norwalk, Connecticut; and Windsor Corporate Park, a four-building, 291,550± square-foot, office complex in East Windsor, proximate to Exit 8 of the New Jersey Turnpike.
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