December 9, 2020
SOLD – COASTAL SPINE MEDICAL CENTER – MOUNT LAUREL, NEW JERSEY
JH Winokur, Inc. is pleased to announce the closing of a healthcare real estate sale-leaseback transaction for Coastal Spine’s flagship medical Center located in Mount Laurel, New Jersey. Coastal Spine is a premier South Jersey Spine Group with four locations and growing. Coastal Spine is an integrated multi-specialty medical practice providing nonsurgical and surgical spine treatment. The practice has offices in Mount Laurel, Sewell, Galloway, Wall Township, and Vineland New Jersey. They focus on minimally invasive solutions to neck, back, and joint pain.
The physicians of Coastal Spine had purchased the property to redevelop the facility into a clinic for their needs. The site contains both their spine clinic and physical therapy. It is also nearby their ambulatory surgical center. Coastal Spine is a Spine Center of Excellence that focuses on high quality and state of the art spine treatment. A commitment to uphold the highest standards of patient care has allowed for the group to become the largest spine only practice in South Jersey. They are one of the only spine centers in the northeast to combine spine-specialized orthopedists, neurosurgeons and physical medicine physicians under one roof. The fellowship trained spine surgeons treat the most complex surgical cases with the most advanced instrumentation and spine surgery techniques available.
Mount Laurel’s proximity to Routes 38 and 73, 295 and the NJ Turnpike is often cited as its top benefit to businesses. Mount Laurel is 20 minutes east of Philadelphia, Pennsylvania, 75 miles south of New York City, 55 miles northwest from Atlantic City, New Jersey and 15 minutes east of Cherry Hill, New Jersey. Mount Laurel’s businesses benefit from the $132,306 avg. household income area.
The real estate was sold to a private investor under the terms of a single long-term 15-year absolute NNN master lease. The lease allows the tenant to have future flexibility for its business entities and separate business lines within the building.
For more information, contact Jason Winokur
