Atlantic Health System Buys Health Pavilion Building for Nearly $26M

On Sep 13, 2019

Atlantic Health System, a healthcare provider in New Jersey, recently purchased the building and property housing the Morristown Medical Center Health Pavilion in Rockaway, underscoring both its full investment in the facility, as well as its full commitment to the community.

The Pavilion, opened in 2016, offers several of Morristown Medical Center’s nationally-recognized services in a location more convenient for people from Mount Arlington, Denville, Dover, Boonton, Morris Plains, Wharton, Roxbury and Randolph. The location is also convenient for people commuting through the town, as it offers early/late hours and an easily accessible location from major highways.

The $25.9 million sale of the 92,326-square-foot building located at 333 Mount Hope Avenue next to the Rockaway Town Square Mall was closed by JLL. The JLL Capital Markets team representing the seller was led by Senior Managing Director Jose Cruz and Director Ben Appel.

Atlantic Health System had been the sole tenant of the building, which is situated on 8.28 acres. When the joint owners opted to sell the building, Atlantic Health System bested offers from 19 other potential buyers, seeing great value in owning the building outright to expand its services and meet the health needs of the community.

The numerous services included in the Pavilion provide care to more than 11,000 patients per month. Atlantic Health System plans to add an ambulatory surgery center and more exam rooms for expanded services in the coming months.

“With an already strong demand from the community at the Pavilion at Rockaway, we decided to fully invest in the location, allowing us free rein to enhance the services there to better meet the needs of our patients,” said Paul Marmora, Vice President, Ambulatory Care for Atlantic Health System.

“Since it opened in 2016, the Health Pavilion has seen incredible growth, which speaks to the demand for Morristown Medical Center’s nationally recognized programs and services in the Rockaway area,” said Trish O’Keefe, PhD, RN, president of Morristown Medical Center. “We continue to work with the community to deeply understand its unique health needs, and, with full ownership of the building, we can expand and enhance our services to best meet those needs.”

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