SOMERSET, NJ-Cushman & Wakefield Inc. has arranged the saleof 220 Davidson Ave., a 164,000-square-foot office building.Private equity fund manager NextBridge Group LLC, based in CentralNew Jersey, acquired the asset from an institutional lender. AndrewMerin, David Bernhaut, Gary Gabriel and Thomas Walsh of Cushman& Wakefield's Metropolitan Area Capital Markets grouprepresented the seller and procured the buyer.

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"This was a lender-owned property," Gabriel tells GlobeSt.com."It is a very opportunistic and logical buy for NextBridge, whichowns a number of properties in that market, as well as diversifiedcommercial real estate assets in various markets throughout the US.There were a number of competitive offers for the building, butNextBridge distinguished themselves and bought the property veryattractively on a per-square-foot basis." The purchase price is notbeing disclosed.

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Healthcare IT provider McKesson Information Solutions is theprimary tenant on a roster that includes the American ArbitrationAssociation, Kyocera, Prudential, National Resources ConservationServices and SVM E-Business Solutions. Completed in 1984, thefour-story asset features 40,435-square-foot floor plates andincludes an on-site management office, cafeteria, and fitnesscenters.

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Located on 10.1 acres just off I-287 in Central New Jersey'sSomerset County, 220 Davidson recently underwent a renovation toits lobby, elevators and common areas. The site provides parkingfor 648 cars.

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The Metropolitan Area Capital Markets group has completed morethan $13.8 billion worth of transactions since 2000. Over the pastfour years, this included an average of $1.3 billion annually,reaching $2.7 billion in 2007.

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