Colliers said it was appointed the exclusive adviser to sell the Jane H. Booker Family Health Center in Neptune Township.
A Colliers team comprised of Vice Chair Jacklene Chesler, Senior Managing Director David Csontos and Directors Patrick Norris and Joe Lane were selected to handle the transaction.
Located at 1800-1836 W. Lake Ave., the 96% occupied office building totals 49,050 square feet and provides stable and secure cash flow from investment-grade medical and government tenants, including Hackensack Meridian Health and the state of New Jersey, and West Lake Pharmacy.
Built in 2010, the three-story building features generous ceiling heights and curved window lines as well as exclusive separate exterior entrances for each of the tenants. The property is ideally located in a neighborhood that has been a hotbed for residential growth and features excess land which allows for potential multifamily development.
“Medical office buildings remain a highly coveted asset type by investors and lenders,” said Chesler.
1800-1836 W. Lake Ave. is well-situated with high visibility at a heavily-trafficked intersection on Route 35 and is just minutes from the Garden State Parkway. There is access to dining, retail and entertainment, and New Jersey Transit bus and rail terminals. Nearby Asbury Park and Bradley Beach are also destinations for tourists and locals year-round.