Morristown Medical Health Pavilion, Rockaway, NJ

ROCKAWAY, NJ—Atlantic Health System has acquired the Morristown Medical Health Pavilion here in a deal valued at $25.9 million.

The Pavilion, opened in 2016, offers several of Morristown Medical Center's nationally-recognized services in a location convenient for people from Mount Arlington, Denville, Dover, Boonton, Morris Plains, Wharton, Roxbury and Randolph. The location is also convenient for people commuting through the town, as it offers early/late hours and an easily accessible location from major highways. Atlantic Health System has been the sole tenant of the property, which sits on 8.28 acres.

The sale of the 92,326-square-foot building located at 333 Mount Hope Ave. next to the Rockaway Town Square Mall was closed by JLL. The JLL Capital Markets team representing the seller was led by senior managing director Jose Cruz and director Ben Appel.

Atlantic Health System bested offers from 19 other potential buyers and saw great value in owning the building outright to expand its services and meet the health needs of the community, JLL states.

The numerous services included in the Pavilion provide care to more than 11,000 patients per month. Atlantic Health System plans to add an ambulatory surgery center and more exam rooms for expanded services in the coming months.

"With an already strong demand from the community at the Pavilion at Rockaway, we decided to fully invest in the location, allowing us free rein to enhance the services there to better meet the needs of our patients," says Paul Marmora, VP, ambulatory care for Atlantic Health System.

"Since it opened in 2016, the Health Pavilion has seen incredible growth, which speaks to the demand for Morristown Medical Center's nationally recognized programs and services in the Rockaway area," says Trish O'Keefe, PhD, RN, president of Morristown Medical Center. "We continue to work with the community to deeply understand its unique health needs, and, with full ownership of the building, we can expand and enhance our services to best meet those needs."

Atlantic Health System, which has a workforce of 17,000 team members and 4,800 affiliated physicians, serves more than half of the State of New Jersey including 11 counties and 4.9 million people. The system offers more than 400 sites of care, including seven award winning hospitals: Morristown Medical Center, Overlook Medical Center, Newton Medical Center, Chilton Medical Center, Hackettstown Medical Center, Goryeb Children's Hospital, and Atlantic Rehabilitation Institute.

Offering a full continuum of care, the system includes Atlantic Medical Group, one of the largest multi-specialty practices in New Jersey with more than 1,000 physicians and providers, 12 urgent care centers, Atlantic Rehabilitation and Atlantic Home Care and Hospice. Facilitating the connection between these services on both land and air is the transportation fleet of Atlantic Mobile Health.

Instant Insights /

Atlantic Health System Pays $26M for Rockaway Building

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