Ironbound Medical Center at 119-137 Clifford St. in Newark — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A newly renovated, 37,500-square-foot medical office building in Newark’s Ironbound section has changed hands for $4.25 million, in a deal arranged by The Kislak Co. Inc.
The brokerage firm on Friday announced the sale of Ironbound Medical Center, located at 119-137 Clifford St. The fully occupied property is home to tenants including Ironbound MRT Clinic, Lafayette Chiropractic Center and St. Justine Nursey.
Kislak Sales Associate Michael Salomon represented the seller, Ironbound Medical LLC, while Sales Associate Julie Gralla represented the purchaser, FSG Mazel LLC. They touted recent upgrades at the building including a more than $1 million gut renovation of the top and bottom floors and half of the lobby.
They also noted that the property includes on-site fenced parking for 40 cars.
“This transaction exemplifies the strength of the commercial real estate market in Newark, especially in the Ironbound section,” Salomon said.
The brokers highlighted the building’s location some three miles from Newark Liberty International Airport and about 1.6 miles from Newark Penn Station.
“There has been an unbelievable renaissance occurring in Newark and this sale is a testament to the ever-growing strength of the market,” Gralla said. “We are very excited to be a part of the continued improvement throughout this area.”