2-6 BRIGHTON ROAD Clifton NJ 07012

CALL FOR OFFERS - 7/25 5:00 PM EST.

Marcus & Millichap has been selected to exclusively market for sale the Allwood Medical Campus, a three-building mixed medical campus within the life sciences corridor of Clifton, New Jersey. All three buildings were built in 1985 and total 160,349 square feet. The property is currently 100% occupied with a mix of prestigious tenants including, Summit Medical Group, Sutherland Healthcare and Englewood Hospital.

The property features distinctive bronzed insulated glass curtain walls, marble pilasters, circular stairwells with rooftop skylights, and landscaped plazas. The property also just underwent renovations, including state-of-the-art climate control systems, newer roof, one new elevator and updated landscaping. Parking is plentiful with 628 total spaces, including 68 covered spots. The market continues to show strong rental growth, due to vacancy consistently declining over the past ten years. This is evident by the existing average rents of $23.98 and latest signed leases at $33 per square foot.

Within New Jersey’s thriving life sciences corridor The Allwood Medical campus is within New Jersey’s life sciences corridor of hospitals, medical office developments and medical schools. The property is within 10 miles of highly acclaimed hospitals including St. Mary’s Hospital, Hackensack Medical Center, and St. Joseph’s Hospital and within 0.5 miles of the 116-acre revolutionary

ON3 development project. ON3 is a world-class life sciences campus encompassing 1.1 million square feet of office space with proposed retail, hospitality and residential components. Several large leases have already been signed, including Hackensack Meridian School of Medicine at Seton Hall, Ralph Lauren, Modern Meadows and Quest Diagnostics.

Near the Route 3 retail corridor The Allwood Medical Campus has an impressive Walk Score of 80 and a nearby traffic count of 128,591 at SR-3 and Bloomfield Avenue. The property is near Clifton’s most popular shopping centers, including River Front Center, Styertowne Shopping Center and The Clifton Commons, with retailers including Costco, Michaels, Kohl’s, Dollar Tree, Barnes & Noble, Target, CVS Pharmacy and an AMC theater. The property is also minutes from major highways, including Route 3, Route 46, Garden State Parkway, I-95, I-80 and the Lincoln Tunnel into New York City. The campus is within five miles of Clifton’s most highly regarded schools, including Thomas Jefferson Middle School, Classical Academy Charter School of Clifton and Brookdale Elementary School.

• Strong Returns – Five-year investment period yields 20.01% IRR​​​​​​​​​​​​​​
• Value-Add: Over the past 3 years, rental growth has averaged 10% annually. Recently signed leases averaging $33 per square feet solidify continued growth
• Within New Jersey’s life sciences corridor: prestigious hospitals include Hackensack Medical Center, St. Joseph’s Hospital, St. Mary’s Hospital, and Mountainside Hospital
• Within 0.5 miles of the 116-acre ON3 development encompassing 1.1 million square fee including Seton Hall - Hackensack Meridian medical school, proposed retail, hospitality and residential components
• Clifton’s Route 3 Corridor is one of the most desirable retail destinations including Home Depot, Costco, Target, and AMC, with the lowest vacancy rates in the state
• Close proximity to Newark, JFK and La Guardia airports