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Transactions: Another big deal for Harrison Street

Private investor pays an estimated $165.2 million for three-MOB N.J. complex

By John B. Mugford

Harrison Street recently acquired three MOBs at 435, 465 and 475 South St. in Morristown, N.J., about one mile south of the Atlantic Health System’s flagship campus, the 742-bed Morristown Medical Center. HFF represented the seller.

Although the offering was marketed somewhat quietly and directly to a select group of potential investors, demand was “very” strong for a three-building, 538,107 square foot medical office building (MOB) complex in Morristown, N.J., 30 miles or so west of downtown New York.

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