Avenel, N.J. – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, negotiated a 1,828-square-foot lease with MedQuest Pharmacy at Plaza 35, located at 1030 St. Georges Avenue in Avenel, New Jersey. Vice Presidents Darren Lizzack, MSRE, and Randy Horning, SIOR, MSRE, represented the landlords, Orchard Enclave, LLC and Virginia Gardens, LLC, in the transaction.
MedQuest Pharmacy is a nationally licensed compounding pharmacy specializing in providing personalized medication tailored to the unique needs of each individual. The company will utilize its new ground-floor space at Plaza 35 to operate a pharmacy accessible to the building’s medical tenants, their patients, and surrounding communities.
Plaza 35 is a four-story, 70,000-square-foot professional and medical office building strategically located just off Routes 1 and 9 on the border of Avenel and Rahway. Home to a wide array of specialty healthcare providers, the building boasts a newly upgraded lobby and common areas, as well as ample on-site parking.
“The market for compounding pharmacies is experiencing strong growth as demand for personalized medicine continues to increase,” said Lizzack. “Well-located suburban office buildings like Plaza 35 are ideally suited to meet the needs of these users, offering convenience, visibility, and proximity to a strong patient base. We are pleased to bring an in-demand tenant to the property and help ownership further drive occupancy with this transaction.”
Established in 2014, Team Lizzack-Horning is an expert brokerage team that specializes in healthcare, office, and investment property transactions. Over the last 30 months, the team has successfully closed 81 real estate sales and leasing transactions totaling more than $98M in value. The team’s innovative end-to-end platform, augmented by CREA United, an expansive network of real estate service providers Lizzack and Horning co-founded, helps clients navigate the increasingly complex transaction process.
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