Sunrise of Franklin Lakes at 728 Franklin Ave. in Franklin Lakes — Courtesy: JLL
By Joshua Burd
Sunrise Senior Living has sold an 88-unit assisted living and memory care facility in Franklin Lakes after debuting the property in 2021, brokers with JLL announced Tuesday.
The listing team represented the seller and procured the undisclosed buyer in the transaction at 728 Franklin Ave., according to a news release. The new owner has retained Sunrise Senior Living to manage the property, which consists of a two-story building with 51 assisted living units across a mix of studio, one-bedroom and two-bedroom homes, plus 37 private or semi-private memory care units.
Amenities include activity rooms and social areas, a bistro that augments a main dining room, a theater, a computer room and a physical therapy gym. Sunrise of Franklin Lakes, which sits on 4.62 acres less than a half-mile from Interstate 287, also has weekly housekeeping and laundry.
Brokers with JLL’s Morristown-based capital markets team completed the sale alongside the company’s senior housing unit. Terms were not disclosed.
