Zimmel secures 16K-square-foot office lease in Matawan

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A new tenant will occupy 16,300 square feet of an office building in Matawan, a deal that brings the property to full occupancy.

Zimmel Associates announced the lease with Alliance Health System for 14 Cliffwood Ave. March 26. The full-service corporate real estate brokerage firm has handled the 48,000-square-foot building since its construction in 2008.

Under the new agreement, Alliance Health System‘s footprint reaches two floors. On one, a 9,200-square-foot unit is located adjacent to another 2,900 square feet of space. An additional 4,200 square feet is on the second floor. The company signed a long-term agreement, Zimmel said, and maintains the option to potentially acquire the building in the near future.

Alliance Health System CEO Nicolas Burfano and Chief Operating Officer Rayna Wolfman represented the tenant in negotiations. According to Zimmel, the deal was finalized and signed within 30 days.

The lease takes over all vacant units in the building. That, Zimmel said, coupled with the opportunity for potential future expansion and exterior signage resonated with the tenant.

“14 Cliffwood Road stands out as the premier choice for businesses seeking an environment primed for growth,” said David Zimmel, president of Zimmel Associates. “Recognizing Alliance Health System’s expertise in providing practice management and administrative support services to individual physicians, group practices, and hospitals, we identified them as ideal tenants.

“With a statewide network, their move from Morganville, N.J., to a more accessible Matawan location aligns perfectly with their corporate objectives,” Zimmel said.

The building is located at Exit 120 of the Garden State Parkway.

Zimmel announced the sale of 14 Cliffwood Ave. for $7.6 million last February. The company also does business as Laser Focus Holdings.