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Avison Young arranges the sale of medical office building in Washington Township, NJ
March 28, 2023
The 70,140-sf building sold for approximately $14 million
Morristown, NJ –Avison Young has arranged the sale of a medical office building at 405 Hurffville Cross Keys Road in Washington Township, NJ on behalf of Gordon MAB Associates to Atkins Companies for approximately $14 million. The two-story, 70,140-square-foot (sf) building sits directly across from Jefferson Hospital Washington Township campus.
Scott Martin, Principal located in Avison Young’s Philadelphia office, Jim Kornick, Principal located in Avison Young’s Washington D.C. office, and Michael Wilson and Erik Foster, Principals located in Avison Young's Chicago office, all part of the firm’s U.S. Health Care leadership, collaborated across multiple geographies to represent both the buyer and seller on the transaction.
“We are pleased to have connected the regional buyer and seller in this premier southern New Jersey Medical Corridor,” said Martin. “The property is across the street from Jefferson Hospital Washington Township which recently completed a $200 million dollar plus expansion.”
Washington Township’s key economic development is centered around the healthcare sector. The new owners are planning renovations to upgrade the finishes of the building and create additional clinical space to meet the demands of the medical office leasing market.
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