Avison Young arranges the sale of medical office building in Washington Township, NJMarch 28, 2023
The 70,140-sf building sold for approximately $14 million
Morristown, NJ –Avison Young has arranged the sale of a medical office building at 405 Hurffville Cross Keys Road in Washington Township, NJ on behalf of Gordon MAB Associates to Atkins Companies for approximately $14 million. The two-story, 70,140-square-foot (sf) building sits directly across from Jefferson Hospital Washington Township campus.
Scott Martin, Principal located in Avison Young’s Philadelphia office, Jim Kornick, Principal located in Avison Young’s Washington D.C. office, and Michael Wilson and Erik Foster, Principals located in Avison Young's Chicago office, all part of the firm’s U.S. Health Care leadership, collaborated across multiple geographies to represent both the buyer and seller on the transaction.
“We are pleased to have connected the regional buyer and seller in this premier southern New Jersey Medical Corridor,” said Martin. “The property is across the street from Jefferson Hospital Washington Township which recently completed a $200 million dollar plus expansion.”
Washington Township’s key economic development is centered around the healthcare sector. The new owners are planning renovations to upgrade the finishes of the building and create additional clinical space to meet the demands of the medical office leasing market.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
For more information:
- Download property photo here.
- Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697
- Scott Martin, Principal, Philadelphia: +1.610.276.3148
- Jim Kornick, Principal, U.S. Medical Office Sales, Washington D.C.: +1.202.644.8681