Property
University Medical Center
Location
Princeton, NJ
Size
280 Units
Value
$26.5M
Type
Sale

University Medical Center

BlueGate Partners, LLC was retained on an exclusive basis by Princeton HealthCare System to arrange the sale of its fee simple interest of the Witherspoon Campus of the University Medical Center at Princeton, located at 253 Witherspoon Street in Princeton, NJ. The rectangular 9.83-acre property has multiple ingress and egress points and is bounded by Witherspoon Street, Henry Avenue, Franklin Avenue and Harris Road. At the time of sale the property consisted of approximately of 511,000 gross square feet of improvements, including the Main Hospital, three Medical Arts Buildings and nine homes along Harris Road. Additionally, there was a 3-story, 741-space structured parking garage adjacent to the main building. The zoning at the time of sale allowed for 280 residential units and approximately 79,000 square feet of retail and commercial uses.