A medical office building in Livingston, New Jersey has recently been sold for $13.5 million. The property was exclusively listed by Brian Kaplan, David Cafiero, and Dean Matuszewicz of Marcus & Millichap on behalf of a local partnership in New Jersey.
The buyer, a limited liability company based in New York City, was represented by Alan Cafiero and Joe Koicim from the firm’s NYC office. This three-story building spans 34,599 square feet and is home to various medical practices and offices.
According to senior managing director of investments Alan Cafiero: “Medical office buildings are highly desirable due to their tenants’ resilience. Proximity to hospital campuses also increases market interest.” This particular property is located just half a mile away from Cooperman Barnabas Medical Center.
This transaction marks another successful sale for Marcus & Millichap as they continue to dominate the commercial real estate market with their expertise and experience.
