Colliers is marketing CenterPointe III, a Class A, three-story office building at 1150 Rte. 22 E. in Bridgewater, NJ, for sale through an online auction platform. The asset will be offered on Ten-X in a bidding window scheduled from April 20 to April 22, providing prospective buyers with a defined timeline to evaluate the property and participate in the sale process.
The property totals 83,447 square feet and is described as a modern corporate office building. According to Colliers, CenterPointe III is currently 30% occupied, with occupancy projected to decline further to 14% by August 1. The leasing profile positions the asset as largely vacant in the near term, which Colliers highlights as an opportunity for new ownership to reposition the building or capture future leasing upside.
Colliers notes that the building could serve as a value-add investment for buyers looking to lease up space in a Class A asset or as a significant owner/user headquarters opportunity. The firm points out that an owner/user could potentially occupy approximately 71,000 square feet, effectively controlling a substantial portion of the building for a modern corporate setting. Current zoning is described as allowing for a variety of uses, which may provide flexibility for future business plans within the existing regulatory framework.
The sale assignment is being led by a Colliers team that includes vice chair Jacklene Chesler, senior vice president Patrick Norris, and transaction manager Brittany Leventoff. Their role encompasses managing the marketing campaign and coordinating the Ten-X auction process for interested investors and potential owner/users.
Commenting on the offering, Chesler stated that opportunities for companies to own a well-located, Class A building of this size have become more limited in the current market environment. She added that CenterPointe III offers owner-users the ability to control their workspace while benefiting from the property’s regional connectivity and its position within what she described as a highly desirable business corridor. Colliers further underscores the potential for long-term value creation at the property, given its quality, scale, and location combined with the near-term availability of space.
The marketing of CenterPointe III through a time-bound online sale process underscores ongoing investor and occupier interest in well-located office assets that can be tailored to specific corporate or investment strategies. With a substantial portion of the building expected to become available, the offering targets buyers seeking either to consolidate operations into a single headquarters facility or to implement a leasing and repositioning strategy in a Class A office environment.
