9 Centre Drive in Monroe — Courtesy: Atkins Cos.
By Joshua Burd
Atkins Cos. has added to its New Jersey medical office portfolio with the acquisition of a nearly 27,000-square-foot property in Middlesex County.
The commercial real estate firm announced Tuesday that it has closed on what’s known as the Forsgate Medical Building in Monroe Township. Located at 9 Centre Drive, the single-story building is home to four health care tenants, offering Atkins a chance to own a fully stabilized asset in the growing outer-ring suburb of both New York City and Philadelphia.
Terms were not disclosed.
“With a strategic location in one of the state’s best health care markets and an ideal mix of medical tenants deploying the latest specialty technologies in the fight against cancer, Forsgate Medical Building is among the finest medical office properties in central New Jersey,” said Cory Atkins, vice president and director of acquisitions of Atkins. “Behind our unique, hands-on approach to management and decades of experience with similar properties, we look forward to working closely with the building’s tenants to ensure that this space can continue to meet their evolving needs as they collectively position the facility as one of the area’s premier cancer care centers serving the rapidly growing local population over the coming years.”
In a news release, Atkins touted the building’s location in a fast-growing community, where more than a third of residents are over age 65. The firm pointed to the town’s abundance of active adult communities and its 14.4 percent population growth from 2010 to 2018.
The property, which was built in 1991, houses specialty medical tenants such as Princeton Radiology, Princeton Radiation Oncology, Regional Cancer Care Associates and Princeton & Rutgers Neurology. Following a recent merger between Princeton Radiation Oncology and RCCA, the latter built a new, state-of-the-art infusion center at the Forsgate Medical Building.
Simultaneously, Princeton Radiation Oncology extended its lease and revamped its existing space, including the installation of a new linear accelerator, Atkins said.