Treetop Development Acquires Bridgewater Medical Office Portfolio for $27 Million

Treetop Development, a real estate development and investment firm led by Azi Mandel, has acquired a medical office portfolio in Bridgewater, New Jersey for $27 million. The portfolio, consisting of three properties totaling 112,000 square feet, was sold by Bridgemark Hospitality.

The properties are located at 1200, 1210, and 1220 Route 22 East in Bridgewater, a prime location with high visibility and easy access to major highways. The medical office buildings are situated on a 27-acre site, providing ample space for future expansion or redevelopment.

The sale price of 27 million translates to approximately 241 per square foot, reflecting the strong demand for medical office properties in the Bridgewater market. The transaction was brokered by Elli Klapper, Charles Berger, Jeremy Wernick, Mark Silverman, and Donald Sperling of CBRE, a leading commercial real estate services and investment firm.

Treetop Development, known for its expertise in residential and commercial real estate development, has been actively expanding its portfolio in the New Jersey market. The acquisition of the Bridgewater medical office portfolio aligns with the company’s strategy of investing in high-quality properties with strong growth potential.

The Bridgewater market has seen significant demand for medical office space in recent years, driven by the growing healthcare industry and the need for convenient access to medical services. The properties acquired by Treetop Development are well-positioned to capitalize on this demand, with their prime location and modern facilities.

The medical office buildings offer a range of amenities and features designed to meet the needs of healthcare providers and their patients. The properties are equipped with state-of-the-art medical equipment, ample parking, and spacious waiting areas. The buildings also have flexible floor plans that can accommodate a variety of medical specialties.

Treetop Development plans to implement a strategic leasing and management plan to maximize the value of the medical office portfolio. The company aims to attract high-quality tenants and provide them with a supportive and efficient environment to deliver quality healthcare services.

The acquisition of the Bridgewater medical office portfolio is expected to generate strong returns for Treetop Development. The demand for medical office space in the area is projected to continue growing, driven by population growth, an aging population, and advancements in healthcare technology.

Treetop Development’s acquisition of the Bridgewater medical office portfolio demonstrates the company’s commitment to investing in high-quality properties in strategic locations. With its track record of successful real estate projects, Treetop Development is well-positioned to capitalize on the strong demand for medical office space in the Bridgewater market.

In conclusion, Treetop Development, led by Azi Mandel, has acquired a medical office portfolio in Bridgewater for 27 million. The portfolio consists of three properties totaling 112,000 square feet and is located at 1200, 1210, and 1220 Route 22 East. The sale price equates to approximately 241 per square foot. The transaction was brokered by Elli Klapper, Charles Berger, Jeremy Wernick, Mark Silverman, and Donald Sperling of CBRE, a leading commercial real estate services and investment firm. This acquisition aligns with Treetop Development’s strategy of investing in high-quality properties with strong growth potential in the New Jersey market.