Commercial real estate brokerage firm Marcus & Millichap brokered the $2.35 million sale of a single-tenant government facility occupied by the Social Security Administration in Toms River.
Located at 190 St. Catherine Blvd., the 7,440-square-foot property sits on 1.24 acres near State Route 37 and the Garden State Parkway. The Social Security Administration has operated at this location since 1996, serving over 100,000 retirees across more than two dozen regional senior living communities.
- Purchase Price: $2.35 Million
- Square Footage & Land: 7,440 SF on 1.24 acres
- Tenant: Social Security Administration (operational at site since 1996)
- Recent Upgrades: Complete interior gut and rebuild in 2025, including a new roof
- Seller: Private investor based in New Jersey
- Buyer: Private investor based in California
The facility is positioned adjacent to an 86,000-square-foot healthcare development built in 2023, which houses the Community Medical Center and Children’s Specialized Hospital—offering imaging, ambulatory surgery, therapy, and pediatric care.
Investment sales professionals Seth Goldberg, Alan Cafiero, and Brent Hyldahl from Marcus & Millichap’s New Jersey office exclusively represented the seller and procured the buyer.
“The property offered an attractive combination of a long-standing federal government tenancy, a recently renovated facility, and a well-established Toms River location,” said Seth Goldberg, Director of Investments at Marcus & Millichap. “Its proximity to major healthcare facilities, coupled with the stability of the Social Security Administration tenant, made it a compelling investment opportunity.”
The transaction represents a repeat deal for the brokerage team.
“This marks the second time our team has brokered the sale of this property—it’s always rewarding to see an asset come full circle,” noted Brent Hyldahl, Senior Managing Director of Investments. “Our familiarity with the building and the local market helped us deliver a successful outcome for both parties.”
