2C — March 27 - April 9, 2020 — The Best of 2019 — M id A tlantic Real Estate Journal www.marej.com The LARGEST MEDICAL OFFICE SALE of 2019 JLL One Diamond Hill Road Berkeley Heights, NJ The Kislak Company, Inc. Pondview Plaza Monroe, NJ Marcus & Millichap-NJ Allwood Medical Campus Clifton, NJ
Size : 8.74 Acres Brokers: Fahri Ozturk, Richard Gatto and Thomas Cleary All three buildings were built in 1985 and total 160,349 square feet. The property is currently 100% occupied with a mix of prestigious tenants including, Summit Medical Group, Sutherland Healthcare and Englewood Hospital. The property also just underwent renovations, including state-of- the-art climate control systems, newer roof, one new elevator and updated landscaping. Parking is plentiful with 628 total spaces, including 68 covered spots. The market continues to show strong rental growth, due to vacancy consistently de - clining over the past ten years. This is evident by the existing average rents of $23.98 and latest signed leases at $33 psf. Fahri Ozturk Richard Gatto Thomas Cleary
Size: 31,000 SF Broker: Stephen Gianis
Located on a 4.69 acre site, the medical office space is housed in three separate structures consisting of single story buildings built in 1997 with ample parking at a ratio of 5.00/1,000 SF, including handicap and wheelchair accessible spaces. Cur - rently at 96% occupancy, the buildings are located in a densely populated adult and residential area of Monroe Township, offering very favorable demographics for tenants. The freestanding buildings have appealing features inclusive of French windows allowing for abundant natural light, high ceilings, reception and common areas, laboratory, central heating and air conditioning, and a courtyard. Other amenities include Wi-Fi, a security system and 24 hour building access along with monument signage.
Size: 270,000 SF Brokers: JLL’s Jose Cruz, Ben Appel and Mark West JLL represented Summit Medical in the sale of their six- building medical office campus which totals 270,000 SF on 43 acres in Berkeley Heights, New Jersey.
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