HFF announces $16.2M sale of retail center, medical office building in Washington

By Emily Bader
Washington | Oct 25, 2018 at 12:32 pm

HFF announced Wednesday the $16.2 million sale of a a retail center and medical office building in Washington.

The Village Shoppes at Hawk Pointe and the Hunterdon Medical Office Building are comprised of 81,415 square feet and 25,000 square feet, respectively.

The HFF investment advisory team of Jose Cruz and Kevin O’Hearn, senior managing directors; Chris Munley, managing director; Ben Appel, Steve Simonelli and Michael Oliver, senior directors; and Michael DiCosimo, director; represented the property on behalf of the seller, Asbury Farms. Larken Associates purchased the asset.

The Hunterdon Medical Office Building is a multispeciality outpatient medical office building leased to Hunterdon Healthcare. It was constructed in 2016 next to The Village Shoppes, which opened in 2010. The properties are situated on Clubhouse Drive.

“With a premier grocery anchor and extreme barriers to entry in this market, The Village at Hawk Pointe is a highly successful asset,” Munley said. “In today’s retail environment, grocery-anchored product continues to demand premium pricing.”

“This is a destination location surrounded by amenities that bring patients to this location and drive the success of the hospital,” Appel said.  “With additional land slated for the future development of medical office and senior care, this campus will continue to grow.”

Emily Bader | ebader@roi-nj.com | emilybader