The Kislak Company Inc. announced the recent $4.25 million sale of the Ironbound Medical Center in Newark.
The 37,500-square-foot medical office building, located at 119-137 Clifford St., is located int he heart of the Ironbound section of Newark.
Michael Salomon, sales associate, represented the seller, Ironbound Medical LLC. Julie Gralla, sales associate, represented the buyer, FSG Mazel LLC.
“This transaction exemplifies the strength of the commercial real estate market in Newark, especially the Ironbound section,” Salomon said.
The building has undergone recent capital improvements, including a $1 million renovation of the top and bottom floors and half of the lobby.
The building is within close access to the Newark Liberty International Airport and Newark Penn Station.
“There has been an unbelievable renaissance occurring in Newark and this sale is a testament to the ever-growing strength of the market. We are very excited to be a part of the continued improvement throughout this area,” Gralla said.