14 Cliffwood Ave. in Matawan — Courtesy: Zimmel Associates
By Joshua Burd
A growing health care network has acquired a 46,000-square-foot office building in Matawan, in a deal arranged by Zimmel Associates.
The buyer, Alliance Health Systems, will maintain its headquarters at 14 Cliffwood Ave. after paying an undisclosed sum for the three-story building just off the Garden State Parkway. The deal provides it with a centralized location with the ability to expand, the brokerage team said, noting that the provider occupies 16,300 square feet under an existing lease and will consider expansion as other leases expire.
It also marks the third time Zimmel has brokered the sale of 14 Cliffwood, which is fully occupied, since its construction in 2008 by Denholtz.
“The ability to secure a property that serves as both a headquarters and a strong foundation for future expansion made this the ideal match for Alliance,” said David Zimmel, president of Edison-based Zimmel Associates.
According to a news release, Alliance operates a network of health care practices across New Jersey, specializing in orthopedic surgery, physical therapy and outpatient services. It occupies a combined 12,100 square feet on the third floor and 4,200 square feet on the second floor.
Zimmel also brokered the sale of the building in 2017 to Methfessel & Werbel, followed by its purchase six years later by Laser Focus Holdings. The latter tapped the brokerage team to market the property when it pivoted from a plan to use it as its headquarters.
Zimmel: Logistics firm buys 46,000 sq. ft. Matawan office building as investor-user
