142 Route 35 in Eatontown — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has acquired a nearly 28,000-square-foot medical office property in Eatontown for some $8 million, in a newly announced deal by Marcus & Millichap.
Known as Aspen Court, the building at 142 Route 35 drew interest thanks in part to a newly signed 10-year lease extension by Advanced Endoscopy & Surgical Center, according to a news release. The practice anchors the 27,965-square-foot property alongside Carbon Health Urgent Care, Atlantic Medical Imaging, Eatontown Dental and others, while the site is minutes from Monmouth Mall, beaches in Long Branch and Monmouth University.
Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap’s New Jersey office represented the seller, PB7 Associates, and procured the buyer, Aspen Court Partners LLC, in the $8.05 million. They noted that the facility sits on 1.65 acres along Route 35, which sees average daily traffic of nearly 30,000 vehicles.
“Investor demand for well-located medical properties remains strong,” said Hyldahl, first vice president for investments with Marcus. “Our team successfully navigated a very complex environment to get this one across the finish line.”
