Joint venture nabs American Metro Center

Meritage/Oppenheimer Real Estate Value Partners I LP, Avenue Capital and Lincoln Equities Group have joined forces to acquire American Metro Center, a 450,000-square-foot, three-building office complex in Hamilton, N.J.

Situated on 112 acres, American Metro Center is located at 240 Princeton Ave. adjacent to the Hamilton train station on N.J. Transit's Northeast Corridor line. The property features a full-service cafeteria, a fitness center, a conference center, and ample parking.

The seller, Preferred Real Estate Investments Inc., redeveloped the property -- the former American Standard manufacturing plant -- over the past several years.

"This property provided us with a tremendous investment opportunity," said Andrew Nathan, principal of Meritage Properties. "Featuring entirely new systems and infrastructure, American Metro Center offers tenants a unique first-class office environment with outstanding amenities in a prime location. The property distinguishes itself from the competition by virtue of its high ceilings, skylights, exposed brick and columns, expanded window lines, and unparalleled access to both a major transit center and all area roadways."

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