Horizon Equities Sells Medical Office Portfolio At 1 & 3 Plaza Drive For $13.6M

The sale involved two medical office buildings located at 1 and 3 Plaza Drive in Toms River, New Jersey. The total square footage of the properties is 55,680 with a sale price of $13,600,000, reflecting a price per square foot of $244. The assets span an acreage of 11.18 and were nearly fully leased at the time of the transaction.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $13,600,000
• Address: 1 & 3 Plaza Drive
• Market: Toms River, NJ
• Square Footage: 55,680
• Price Per Square Foot: $244
• Seller: Horizon Equities
• Broker Representatives: Jacklene Chesler, Patrick Norris & Brittany Leventoff - Colliers

Colliers was responsible for brokering the transaction, representing the seller Horizon Equities. Notably, the deal attracted strong investor interest due to the properties' stable medical tenancy and their proximity to major healthcare systems, alongside a significant surrounding senior population that supports long-term outpatient demand.