Somerset Corporate Center is comprised of five Class-A office buildings in Bridgewater,N.J. Widely regarded as the premier corporate headquarters location in Central NewJersey, Somerset Corporate Center is home to numerous leading-edge companies thatbenefit from the center’s state-of-the-art work environment, including Linde Americas,iconectiv, Mazda, Kering Eyewear, Allergan, Cognizant Technologies, Aon Hewitt andMerrill Lynch.
Somerset Corporate Center’s unique configuration affords access in all directions viaRoutes 202/206 and 22, as well as Interstates 287 and 78. Additionally, the center offers access to public transportation, including NJ TRANSIT service via a shuttle to theSomerville train station just four miles from the property, and features a state-of-the-artconference facility, as well as fitness centers and cafes in each of its buildings.
SJP Properties owns and manages this premier property. We took an equity stake in three of the five buildings in September of 2017 with an option to expand the position to all five buildings. The investment has been a commercial success producing 10+ percent returns.We anticipate additional upside with the completion of a planned hotel development onsite. In addition, partnering with the established market leader, SJP Properties, gives us significant weight in the New Jersey commercial real estate market.