1030 Saint Georges Ave. in Avenel — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has paid $8.5 million to acquire a 62,000-square-foot medical and office complex in Woodbridge, brokers with Marcus & Millichap said Friday.
In a news release, the firm said it represented both parties in the sale of 1030 Saint Georges Ave. The multitenant property is located in the township’s Avenel section.
Investment specialists Kim Kretowicz, Fahri Ozturk and Richard Gatto handled the assignment out of Marcus & Millichap’s New Jersey office in Saddle Brook.
“The property attracted an elevated level of interest from well-known local private office and national health care investors,” said Kretowicz, a vice president, investments, of the firm’s National Office and Healthcare Real Estate Group. “The sub seven cap sales price underscores that investors are bullish on suburban office.”