Route 22 medical building in Bridgewater sold for $10.5 million

Kings Row Medical Properties has purchased the medical office and surgery center at 1081 Route 22 in Bridgewater for $10.5 million.

Kings Row Medical Properties, based in Highland Park, has purchased the medical office and surgery center at the intersection of westbound Route 22 and North Gaston Avenue in Bridgewater, for $10.5 million.

The seller was 1081 Partners LLC of Raritan Township.

Anchored by MidJersey Orthopedics that recently extended its lease, the building features a physical therapy practice, as well as two state-of-the-art surgery centers.

Set on nearly 2.5 acres with parking for 135 cars, the 24,200-square-foot building includes an easement agreement with Atlantic Health and Hunterdon Healthcare systems, connecting the property to other medical offices and facilitating ease of access.

Erica Davidson, of Lee & Associates New Jersey which represented the seller, said the property drew numerous offers.

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“1081 Route 22 serves as an orthopedic hub, and its quality and stability commanded a premium price,” Davidson said in a news release. “The healthcare and medical office sectors continue to perform well in the current real estate environment. Ultimately, the buyer is an experienced local operator, and their hands-on approach will benefit the property and its tenants moving forward.”

1081 Partners bought the property in March 2019 from 1081 Realty Company for $7 million, according to Somerset County real estate records.

Tax records indicate the property was assessed at $3,895,600.

This article originally appeared on MyCentralJersey.com: Route 22 medical building in Bridgewater sold for $10.5 million