585 Cranbury Road in East Brunswick — Courtesy: Zimmel Associates
By Benjamin Bergeron
Zimmel Associates has brokered the sale of a 13,336-square-foot medical building in East Brunswick to Avatar Residential Detox Center for $2.1 million, the firm announced Tuesday.
Jordan Zimmel, a vice president with Zimmel Associates, facilitated the sale of the property at 585 Cranbury Road. He noted that the building is near Rutgers University and hospitals such as Robert Wood Johnson University Hospital, Saint Peter’s University Hospital, Raritan Bay Medical Center and Hackensack Meridian Health’s JFK Medical Center.
The building recently underwent renovations through a $1 million investment, which included a new roof and an exterior makeover for the roughly 8,000 square feet of useable space on the main level and downstairs sections. The transaction took multiple phases with the tenants, investors and the firm, Zimmel said.
“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.”
Still, Zimmel said the firm was able to complete the deal within 45 days of going to market.
Benjamin Bergeron is a freelance writer.
