New Ownership, Golden Gate Management, Overseeing Make-Over of Former Liberty Mutual Headquarters Office Complex

CBRE announced today it has been appointed the exclusive leasing agent at Somerset Office Center, a four-story, 125,037 sq. ft. Class A building located at 399 Campus Drive in Somerset, New Jersey.

After acquiring the property earlier this year, Golden Gate Management launched a capital improvements campaign at the former Liberty Mutual headquarters to best meet the current and future demands of corporate space users in the market. The improvements include new HVAC systems, a newly renovated fitness center, café, common areas and rest rooms.

The property is centrally located in the heart of Somerset with immediate access to Route 287 and close to the NJ Turnpike, Garden State Parkway, Route 22 and I-78.

The CBRE team of Peter Shikar and Patricia Riedel will spearhead the leasing campaign on behalf of ownership.

New ownership Golden Gate is a New York-based private equity investment firm which owns and manages approximately 1+ million sq. ft. of office space in New Jersey. Golden Gate has a long and successful history of repositioning assets and building relationships with their tenants.

“We are thrilled to be working closely with Golden Gate Management in introducing this high-caliber office asset to the market,” said First Vice President Peter Shikar. “With ownership’s commitment to improving the property, we’re confident we will be able to lease the remaining space, despite these challenging times right now facing our industry.”

In addition to its high-quality office space and amenities, Somerset Office Center is in close proximity to top retail, restaurants and hotels and is just three miles from the Bridgewater Commons Mall. Built in 1984, the property offers typical floor sizes of 31,247 sq. ft. and an abundance of natural light.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.