BRIDGEWATER, NJ—PCCP is bankrolling American Real Estate Partners and Silverpeak Real Estate Partners for the acquisition and lease-up of CenterPointe at Bridgewater, a four-building class-A office campus totaling nearly 332,000 square feet in Bridgewater, NJ. The acquisition was reported earlier this week by GlobeSt.com. PCCP is providing a $29.76 million senior loan for the deal.
“PCCP is pleased to provide financing for this property, which is arguably one of the top three assets within its submarket,” says Kevin Chin, senior vice president of PCCP. “It has been well maintained, includes a diverse tenant roster, a historically strong occupancy, and benefits from a strategic location in northern New Jersey.”
Developed in phases from 1995 to 2001, the institutional-quality property is located at 1130, 1140, 1150, and 1160 Route 22. The property is located within the I-78 Corridor office market, which has been attractive to the pharmaceutical and technology industries and is considered to be one of the strongest suburban office markets in New Jersey.
“American Real Estate Partners is an experienced owner and manager of value-add office buildings,” says John Randall, managing director of PCCP. “CenterPointe marks its fourth acquisition in this region and the firm has a history of successfully adding value through lease-up strategies and repositioning its assets within the market.”
AREP plans to implement a $2.7 million capital improvement plan for the renovation of one of the buildings, as well as make other improvements and cosmetic enhancements in the remaining three buildings, says Randall.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
