The Birch Group Pays $85M for American Metro Center Complex
“From the first time I walked the building, I was intent on acquiring this unique asset. I look forward to building on AMC’s past success by enhancing the amenity offerings and driving future leasing,” says Mark Meisner, principal of The Birch Group.
HAMILTON, NJ—The Birch Group of Nanuet, NY has acquired the 487,072-square-foot American Metro Center office complex here for $84.7 million.
Commercial brokerage firm CBRE reported the sale transaction. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Zach McHale of CBRE Institutional Properties represented the seller and also procured the buyer, The Birch Group. The CBRE leasing team of Adam Englander and Matt Saker assisted in the sale process.
Previously used by American Standard as a manufacturing facility, this adaptive re-use utilizes the historic design features including exposed brick, high ceilings and expansive windows and skylights to attract tenants. Situated adjacent to the Hamilton Train Station, occupancy has been driven by the confluence of design, amenities, access to rail and highly efficient space, CBRE states. The building also benefits from being a part of the Princeton submarket, one of the state’s strongest. These attributes, coupled with the leasing success, spurred the interest of The Birch Group.
“From the first time I walked the building, I was intent on acquiring this unique asset. I look forward to building on AMC’s past success by enhancing the amenity offerings and driving future leasing,” says Mark Meisner, principal of The Birch Group.
“This is a truly special asset and Mark recognized that immediately,” Neuer notes. “The tenants love the natural light, exposed brick and modern amenities. Today’s tenants crave unique buildings and spaces as they use their space to attract and retain talent.”
CBRE’s Dunne notes that the brokerage firm also worked with The Birch Group in its acquisition of 350-360 Mt. Kemble in 2018.
CBRE Institutional Properties is currently marketing a number of investment opportunities in the New York metro market including: Park Avenue at Morris County in Florham Park, NJ, a 1.2 million-square-foot trophy, Class A office complex; 520 White Plains Road in Tarrytown, New York, a 92% leased 171,888-square-foot office building; 800 Connecticut Ave. a 412,23-square-foot office building in Norwalk, CT and Windsor Corporate Park, a four-building, 291,550-square-foot, office complex in East Windsor, NJ.