CenterPointe Portfolio in Bridgewater Sells to Signature Acquisitions
The four-building, 331,354-square-foot CenterPointe Portfolio in Bridgewater, NJ has changed hands from American Real Estate Partners to Signature Acquisitions. Deal terms were not disclosed, but published reports quoted a price of $46 million.
CBRE Institutional Properties’ team of Jeffrey Dunne, Jeremy Neuer and Travis Langer represented the seller and also procured the buyer. Over the past 18 months, Signature Acquisitions has acquired a total of $215 million in tri-state properties marketed by the CBRE team, including CenterPointe.
“American Real Estate Partners’ extensive capital investment, coupled with their aggressive leasing program, increased occupancy from 41% to 90%,” said Dunne. “Simply stated, they did an incredible job.”
Since 2015, when it acquired CenterPointe, American Real Estate Partners has completed over 197,000 square feet of new leasing, and over 38,000 square feet of renewals at the property. The new leases included a full-building deal by Allstate for 63,000 square feet.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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