Patriot Plaza at 57 Route 46 in Hackettstown — Courtesy: JLL
By Tina Traster
A joint venture has purchased a nearly 66,000-square-foot medical office building in Hackettstown, according to JLL’s New Jersey capital markets team.
JLL represented the seller, a private company, in the trade of Patriot Plaza to Kayne Anderson Real Estate and Remedy Medical Properties. The 65,658-square-foot building at 57 Route 46 is 95 percent leased, with a tenant makeup that is 81.9 percent medical and 13.1 percent retail.
JLL Managing Director Brannan Knott, Director J.B. Bruno and Vice President Craig Parcells brokered the sale. They noted that the property is anchored by Atlantic Health System, an academic health system affiliated with the Sidney Kimmel Medical College at Thomas Jefferson University, and has a two-operating-room, multispecialty ambulatory surgery center affiliated with Surgical Care Affiliates, which is owned by a subsidiary of UnitedHealth Group Inc.
The tenant mix at the property, which is 2.6 miles south of Hackettstown Regional Medical Center, includes orthopedics, radiology, physical therapy, oral and maxillofacial surgery, ophthalmology, podiatry, gastroenterology and general surgery.