A pair of nearly fully leased medical office buildings serving the Holiday City area and surrounding communities in Toms River have been sold for $13.6 million, highlighting continued investor demand for healthcare properties in Ocean County.
Two prominent medical office buildings on Plaza Drive in Toms River have changed hands in a $13.6 million transaction, according to real estate brokerage firm Colliers.
The sale includes the medical office properties located at 1 Plaza Drive and 3 Plaza Drive, just off Route 37 and near the Holiday City retirement communities. The buildings contain a combined 55,680 square feet of medical office space and sit on approximately 11.18 acres.
At the time of the sale, the properties were reported to be nearly fully leased.
Strong Demand for Medical Properties
The portfolio was sold by Horizon Equities, with Colliers representing the seller in the transaction.
The brokerage team included Jacklene Chesler, Patrick Norris, and Brittany Leventoff.
According to Colliers, the sale generated significant interest from investors due to the property’s stable roster of medical tenants and its location in one of New Jersey’s largest senior population centers.
The transaction equates to approximately $244 per square foot.
Location Serves Large Senior Population
The medical offices are situated in a heavily traveled healthcare corridor serving residents throughout Toms River, including the nearby Holiday City communities.
The area is home to thousands of senior residents who rely on outpatient medical services, specialty healthcare providers, physician practices, diagnostic services, and related medical offices.
Colliers cited the surrounding senior population as a key factor driving investor interest in the property.
“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,” the brokerage firm said.
Healthcare Real Estate Remains Attractive
Medical office buildings have become increasingly attractive to investors in recent years because healthcare providers tend to sign long-term leases and generate consistent demand regardless of broader economic conditions.
The Plaza Drive properties also benefit from their proximity to major healthcare providers operating throughout Ocean County.
Industry analysts have noted that aging populations continue to drive demand for outpatient healthcare facilities, particularly in communities such as Toms River where a substantial portion of residents are retirees.
The transaction marks one of the more notable commercial real estate sales in Toms River this year and underscores continued investment interest in healthcare-related properties across the Jersey Shore region.
Key Points
• Two medical office buildings at 1 and 3 Plaza Drive in Toms River sold for $13.6 million.
• The 55,680-square-foot portfolio was nearly fully leased at the time of the sale.
• Investors were attracted by the property’s medical tenants, proximity to healthcare systems, and the large senior population surrounding Holiday City.
