Press release:
Leading Private Equity Real Estate Firm Continues its Expansion With Acquisition of a 30,000-Square-Foot New Jersey Property
PRINCETON, NEW JERSEY, JANUARY 7, 2022 – Leading global commercial real estate services firm Colliers (NASDAQ and TSX: CIGI) announces that it has facilitated the sale of a 30,000-square-foot medical office property in partnership with Commercial Property Network, Inc. The Class A medical office building is located at 800 Bunn Drive in Princeton and is 100% occupied with specialized medical practice tenants.
Colliers’ Kim Kretowicz, Managing Director Healthcare Specialist / Capital Markets, represented the buyer, Thomas Park, a leading private equity real estate firm, in the transaction. The seller of the property, Gordon Bunn Drive Associates, LLC, was represented by Paul E. Goldman, Senior Director at Commercial Property Network, Inc.
“We are excited to further our medical office acquisitions in New Jersey with the purchase of 800 Bunn,” said Alex Kopicki, Chief Investment Officer at Thomas Park. “With an outstanding patient base and ability to draft off of the University, we know this asset is positioned to sustain long-term value.”
“There is a flood of interest in MOB’s creating a higher demand from institutional buyers in the sub-$10 million on- and off-campus assets,” said Kretowicz. “800 Bunn’s Princeton checks the institutional boxes with its internationally recognized address, tenant quality and income durability. Thomas Park recognized this value and seamlessly acquired the property”
This acquisition marked Thomas Park’s second acquisition in New Jersey in 2021, also represented by Kretowicz. The company continues to bolster its portfolio of properties with acquisition’s in their area of focus which runs the Acela corridor from Richmond, VA to Boston, MA. The company previously acquired a 33,000-square-foot medical office property at 225 May Street in Edison, New Jersey.
Media Contact:
Chrissy Carvalho
Goldin for Colliers
colliers@goldin.com
646 660 8641
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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