Advance Realty Group Acquires Branchburg Centre In Branchburg, NJ
Advance Realty Group announced the acquisition of Branchburg Centre located at 3040 Route 22 West in Branchburg, New Jersey from Matrix Development Group and AEW. Leading this transaction for Advance Realty Group were Bob Martie, senior vice president and regional managing director and Eric Becher, vice president and regional acquisition officer. Cushman & Wakefield represented Matrix and AEW.
“We are pleased to announce this strategic acquisition of Branchburg Centre. This acquisition reflects our strategy of building our New Jersey portfolio with value-added opportunities in both suburban and urban locations. Branchburg Centre also provides excellent future development potential, and is located in close proximity to several Advance-owned developments in the Somerset County region,” stated Bob Martie.
In addition to the 89,272-square-foot, fully-occupied office building, the acquisition includes 31.8 acres of vacant land at Branchburg Centre, which is fully approved for the construction of a new 290,000-square-foot, Class A office development.
“This build-to-suit opportunity represents one of the only ‘ready to go’ alternatives in the State of New Jersey,” remarked Bob Martie.
Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With five million square feet of operating properties and a development portfolio consisting of eight million square feet of commercial projects and 9,400 residential units, Advance is one of the leading real estate owners in the Northeast and is headquartered in Bedminster, New Jersey.