Zimmel Associates is pleased to announce the sale of 14 Cliffwood Avenue, a 46,000 sq. ft. office building in Matawan, NJ, to Alliance Health Systems. This is the third transaction Zimmel has brokered for the property since its construction in 2008.
Zimmel Associates has exclusively managed all activity at the building, beginning with its initial sale to Methfessel & Werbel, followed by its purchase by Laser Focus Holdings. When Laser Focus changed plans for its intended headquarters space, they returned to Zimmel to bring the property to market again.
Zimmel had already connected Alliance Health Systems to the property through a 16,300 sq. ft. lease covering all remaining vacant space, including 9,200 sq. ft. and 2,900 sq. ft. on the third floor and 4,200 sq. ft. on the second floor. The building’s visibility off Exit 120 of the Garden State Parkway and prominent signage made it an ideal choice for Alliance’s long-term growth plans.
Alliance operates a network of healthcare practices across New Jersey, specializing in orthopedic surgery, physical therapy, and outpatient services. Owning 14 Cliffwood Avenue provides a centralized headquarters and flexibility to expand as other leases conclude.
“The ability to secure a property that serves as both a headquarters and a strong foundation for future expansion made this the ideal match for Alliance,” said David Zimmel, President of Zimmel Associates.
The building is now fully leased, with Alliance occupying nearly half the space.
About Zimmel Associates
Zimmel Associates is a full-service corporate real estate brokerage specializing in the sale and leasing of office, industrial, and investment properties throughout New Jersey. Led by President David Zimmel, the firm delivers strategic solutions and results-driven client service for property owners, tenants, and investors across the tri-state area.