New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Treetop Acquires Medical Offices, Adjacent Lots in Bridgewater
CBRE arranged the $27-million acquisition of three properties located at 1200, 1210 and 1220 Route 22 E. in Bridgewater, NJ. Treetop, a leading real estate investment and development firm, acquired the properties from Bridgemark Hospitality.
The CBRE Tri-State Investment Properties team of Elli Klapper, Charles Berger, Jeremy Wernick, and Mark Silverman worked in conjunction with Advisory & Transaction’s Donald Sperling to final;ize the transaction.
“This unique assemblage sale combines two very different types of transactions,” said Klapper. “Treetop not only purchased a fantastic value-add medical office building, but they also purchased two adjacent land lots for future development.”
Berger added, “Developers and investors recognize the importance of a strong in-place income stream, but also see the crucial need for developable land in today’s volatile market. Since the pandemic, there has been a major shift towards development, especially ones in strategic locations with excellent proximity to major transportation options.”
- ◦Sale/Acquisition
- ◦Development
