Bridgewater Corporate HQ Building Sells for $261M

55 Corportate Drive Bridgewater
55 Corporate Drive, Bridgewater. Image courtesy of CBRE.

A Class-A, corporate building was recently sold for $261 million in Bridgewater, New Jersey.

Located at 55 Corporate Drive, the property is approximately 675,000 square feet and serves as the North American headquarters for Sanofi. Sanofi has a lease in place through to December 31, 2032, making this transaction the largest single-tenant transaction in New Jersey since 2016.

The seller, American Finance Trust, was represented by Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Rich Gatto, Fahri Ozturk, Travis Langer, and Zach McHale of CBRE’s Institutional Properties group, in partnership with CBRE’s Michael Monahan. CBRE also procured the buyer, AVG Partners, which is a Beverly Hills, CA-based investment firm. The property is AVG Partners’ largest New Jersey acquisition to date and is CBRE’s third sale in excess of $200 million in New Jersey since the beginning of 2021.

CBRE Vice Chairman, Mr. Jeffrey Dunne commented, “We pride ourselves on executing not only the largest and most complex transactions in the market but more importantly, providing our clients with thoughtful advice on timing and execution. This closing helps American Finance Trust realize the goal of rebalancing its portfolio as this was the largest single owned asset.”

“The quality of the building, the amenities, and the workplace environment along with the creditworthiness of Sanofi attracted a deep buyer pool. Capital clearly understands that trophy buildings will continue to be in demand in our market,” added Mr. Neuer, Executive Vice President, CBRE.

CBRE Group Inc is a commercial real estate services and investment firm headquartered in Dallas.


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