Cushman & Wakefield arranged the sale of a 25,364-square-foot medical office property for $8 million, according to a Wednesday announcement from the brokerage.
A Cushman & Wakefield team of David Bernhaut, Andrew Schwartz, Jordan Sobel and Andre Balthazard represented the seller.
Located at 88 Princeton Hightstown Road, the property is a two-story medical office building. The building has recently undergone renovations, resulting in upgraded common areas, new HVAC units and parking lot improvements.
“88 Princeton Hightstown provided investors with the opportunity to acquire a 91% leased, premier boutique medical office asset,” Schwartz said. “We saw significant interest in this property because of its highly impressive tenant roster and ideal medical location.”
Strategically located three miles from the University Medical Center of Princeton, the asset is also located along Princeton Hightstown Road, allowing direct access to the Princeton Junction train station, Route 1 and the New Jersey Turnpike.