Jackson Health Village at 27 South Cooks Bridge Road in Jackson — Courtesy: JLL
By Joshua Burd
Horizon Equities has acquired a 150,000-square-foot medical office building in Jackson for $24 million, in a newly announced deal by JLL.
Brokers say the property, known as Jackson Health Village, sits on 11.26 acres roughly five minutes by car from Interstate 195. The nine-year-old facility on South Cooks Bridge Road is 64 percent occupied by a diverse group of medical practices, JLL added, noting that it has vacancies ranging from 2,600 to 33,000 square feet, the largest of which housed a full-service fitness center with a pool.
“As a medical building with significant upside, combined with the strong existing tenant base and the location, Jackson Health Village was appealing specifically to the strong local investor base,” JLL’s Jeremy Neuer said. “Horizon Equities delivered despite a difficult capital markets environment, and we look forward to our next deal with them.”
Neuer and Jose Cruz, both senior managing directors with JLL, represented the undisclosed seller in conjunction with Vice Chairman Dan Loughlin, Managing Director Tom Stanton and Associate Vice President Matt Loughlin. They also procured the buyer, a national real estate firm with deep roots in Ocean County.
In a news release, JLL said Jackson Health Village has 609 parking spaces for patients and staff. The three-story complex is also minutes from Lakewood, whose rapid expansion is transforming neighboring Jackson and Toms River and which contribute to a combined population nearing 300,000.
Additionally, the average age within a five-mile radius is 30, indicating a trend of ongoing population expansion around the building, JLL said. The population within that radius reaches nearly 150,000, while the property is a 16-minute drive from the Garden State Parkway and nine minutes Route 9.
“This building is Jackson’s premier medical destination, with a great mix of primary and specialty physician practices, urgent care, lab, pharmacy, radiology and conference space, making it attractive to doctors who want to serve the region’s rapidly growing population,” said Joe Kotler, managing partner of Horizon Equities. “The acquisition complements Horizon’s medical office buildings in Ocean County, including its portfolio of medical buildings in Berkeley Township and Toms River.”
