A&G Real Estate Partners marketing 11 property medical office portfolio

Various Locations, USA A&G Real Estate Partners is marketing an 11-property medical office portfolio that includes nine properties in northern New Jersey, along with individual assets in Mount Kisco, NY, and Miramar, FL. 

The 310,290 s/f portfolio is 82% leased, with 12-month projected net operating income of approximately $5.5 million. The owner—a medical doctor who built the portfolio over the last ten years—is open to a joint venture or other proposals, according to Emilio Amendola, A&G co-president.

“These properties retained most of their tenants during the worst days of the pandemic, and the landlord continues to enjoy a positive relationship with them,” said Amendola. “They’ve signed several new tenants in the past couple of months and the portfolio is trending positively. However, the ownership has come to the realization that they need an equity partner to bring the portfolio to the next level with a capital infusion.”

The New Jersey properties are in Oradell, Carlstadt, Hackensack, Jersey City, Glen Rock, Roseland and New Brunswick, along with two buildings in Fair Lawn. The average building size, including the Mount Kisco and Miramar assets, is about 27,000 s/f. 

Current tenants include labs, dental practices, business offices and regional surgery centers. New leases have just been signed that will increase revenue by over $1 million.

“Thanks to the aging of the U.S. population and the push to be as close as possible to where patients live, the medical office sector is poised for further growth,” Amendola said. “It’s part of what makes this portfolio such a strong investment opportunity.”