Horizon Equities has purchased a 10-property, 310,023-square-foot retail and medical office portfolio in Ocean County, N.J. Marcus & Millichap, together with Institutional Property Advisors, brokered the $46 million transaction on behalf of the seller, a private investor, and secured the buyer.
The portfolio consists of five multi-tenant and two single-tenant retail properties, together with two medical offices and an asset that is slated for redevelopment.
Most of the traded properties are in Toms River, N.J., with only one located in Brick, N.J. Several assets are in Holiday City, a neighborhood in Toms River that caters to a significant number of senior citizens.
