Heart, vascular practice acquires Nutley medical office building

Apr 1, 2021 | Deals, Education, Office

591 Franklin Ave. in Nutley — Courtesy: Midtown Commercial Realty

By Joshua Burd

A physician is expanding its practice with the purchase of a 3,050-square-foot medical office building in Nutley, in a newly announced deal by Midtown Commercial Realty.

The brokerage firm this week said it represented both parties in the sale of 591 Franklin Ave., noting that the space is home to three different medical practices. The buyer, who specializes in heart and vascular care, paid $1.125 million for the building.

“We were able to successfully market and secure a strong offer on this property even during the tough COVID market,” said Cheryl Darmanin, a managing director with Midtown Commercial. “This enabled the seller to retire and the buyer to expand his medical practice in the Nutley area.”

Occupants at the building include dental, podiatry and cardiology practices.

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Joshua Burd

Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.