Lee & Associates Arranges $10.5M Medical Office Sale in Bridgewater

On Feb 8, 2024

Kings Row Medical Properties has purchased a medical office/surgery center at 1081 Route 22 in Bridgewater for $10.5 million, announced Lee & Associates New Jersey. The commercial real estate firm’s Erica Davidson represented the private-entity seller and procured the buyer in the transaction; the firm’s Gary Sopko provided transactional support.

Located in a market with strong demographics, this well-maintained asset with long-term triple-net leases drew numerous offers, according to Davidson.

“1081 Route 22 serves as an orthopedic hub, and its quality and stability commanded a premium price,” Davidson said. “The healthcare and medical office sectors continue to perform well in the current real estate environment. Ultimately, the buyer is an experienced local operator, and their hands-on approach will benefit the property and its tenants moving forward.”

Anchored by a leading Somerset and Hunterdon County orthopedic practice that recently extended its lease, 1081 Route 22 additionally features a prominent physical therapy practice, as well as two state-of-the-art surgery centers. Set on nearly 2.5 acres with parking for 135 cars, the 24,200-square-foot building includes an easement agreement with Atlantic Health and Hunterdon Healthcare Systems, connecting the property to other medical offices and facilitating ease of access.

Bridgewater is one of Somerset County’s fastest-growing municipalities, and the property benefits from an expanding housing market and proximity commercial and retail centers, including Bridgewater Commons mall, according to Davidson.

Lee & Associates New Jersey has locations throughout the state and represents the regional operation of Lee & Associates, one of the nation’s largest agent-owned commercial real estate brokerage and property management firms. Lee & Associates professionals combine the latest technology, resources and market intelligence to deliver superior service and optimize results for clients. Established in 1979, the company maintains more than 75 offices in the United States and Canada. In 2022, Lee & Associates’ 1,500+ team members assisted with over $32 billion in transactions.

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