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Community Healthcare Associates Acquires 350K SF Holmdel Office Building For $17.5M

Property Image
SOLD
$17,500,000

New Jersey

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Office350,000 SF
Sold 10/13/2023
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Property Image
SOLD

Community Healthcare Associates Acquires 350K SF Holmdel Office Building For $17.5M

Office350,000 SF
Sold 10/13/2023
the dealplayerscompscontact
Contact now

Summary

Asset Type:Office
Price Per Square Foot:$50
Total Square Footage:350,000 SF
Transaction Type:Sale

The former Vonage headquarters in Holmdel, a 350,000-square-foot office building located at 23 Main Street, has been sold for $17.5 million. The buyer was 23 Main Street Propco LLC, an affiliate of Community Healthcare Associates, represented by William Colgan. The seller was Veris Residential, formerly known as Mack-Cali Corp., with Mahbod Nia serving as their representative in the deal.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $17,500,000
  • Square Footage: 350,000
  • Price Per Square Foot: $50
  • Address: 23 Main Street, Holmdel
  • Market: Holmdel

Community Healthcare Associates, represented by William Colgan, acquired the property from Veris Residential, represented by Mahbod Nia. The former Vonage headquarters provides a significant opportunity for Community Healthcare Associates to expand their presence and meet the growing demand for office space in Holmdel.

Players

Mahbod Nia
Mahbod Nia
14 deals$1.8B volume
SELLER

Details

SOLD
IMAGE: William Colgan & Mahbod Nia DATE: 10/13/2023 ADDRESS: 23 Main Street MARKET: Holmdel ASSET TYPE: Office BUYER: Community Healthcare Associates - William Colgan SELLER: Veris Residential (@VerisResidential) - Mahbod Nia SALE PRICE: $17,500,000 SF: 350,000 ~ PPSF: $50 NOTE: The former Vonage headquarters in Holmdel, a 350,000-square-foot office building at 23 Main St., has been sold for $17.5 million to 23 Main Street Propco LLC, an affiliate of Community Healthcare Associates. Vonage had relocated to Bell Works, and Veris Residential (formerly Mack-Cali Corp.) was the previous owner of the property.

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