The transaction was arranged in-house for Paramount Realty by the firm's director of acquisitions, Maurice Zekaria. The sale was part of his firm's continuing effort to focus on South Jersey, south of Monmouth County, and the Philadelphia area, according to Zekaria.
The asset, built in 1988 and 100% occupied, includes one retail tenant, Hollywood Video, which occupies the entire ground floor. Seven medical office tenants occupy the lower level and second floor, including Open MRI of Union County, Garden State Imaging, PetScan of New Jersey, Epstein Chiropractic Group, Unique Family Dentistry, Lab Corp of America. The building's common areas were recently renovated, according to Zekaria.
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