The asset involved in the transaction is a medical office building located at 1 Seymour Street, Montclair, NJ, featuring a total square footage of 40,785. The property is part of the Seymour Plaza development and was fully leased at the time of sale. The 7-story structure was built for Summit Health in 2021, incorporating 63 exam rooms along with a pediatric suite.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: Not specified
• Address: 1 Seymour Street
• Market: Montclair
• Asset Size: 40,785 SF
• Buyer: Sonny Kalsi - BGO; Ben Ochs - Anchor Health Properties
• Seller: Michael Barry & David Barry - Ironstate Development
• Brokers: Brannan Knott, Christopher Bodnar, Douglas Rodio, Jeffrey Dunne & Travis Langer - CBRE

The deal was facilitated through a joint venture acquisition by BGO and Anchor Health Properties, who obtained the fully leased medical facility from Ironstate Development. CBRE acted as the representative for the seller in this transaction.