Avatar Residential Detox Center purchased a 13,336-square-foot medical building in East Brunswick for $2.1 million, Zimmel Associates announced this week.
The state-of-the-art property, located on 585 Cranbury Road, has approximately 8,000 square feet of usable space.
Recently renovated with an investment of about a million dollars, the building boasts extensive upgrades, including a new roof and an exterior makeover, ensuring a cutting-edge environment for health care providers and their patients. Future renovations may only include a facelift on the interior.
The property also benefits from excellent signage and visibility on Cranbury Road and is conveniently located near Rutgers University and hospitals such as Robert Wood Johnson University Hospital, Saint Peter’s University Hospital, Raritan Bay Medical Center and Hackensack Meridian JFK Medical Center.
Jordan Zimmel, a vice president at Zimmel Associates, was particularly pleased with the sale, noting the difficulty.
“The listing for 585 Cranbury Road, which came to us through a valued family friend, presented several challenges,” he said. “The building had two existing tenants with eight months remaining on their leases, posing a dilemma for potential investors. Some viewed the remaining lease term as too lengthy, while others considered it too short. Additionally, the basement level of 6,220 square feet lacked an elevator, presenting accessibility issues for individuals in wheelchairs or those who had difficulty with stairs, making it unusable.”
Despite these challenges, Zimmel successfully navigated these obstacles to achieve a favorable outcome.
