345 Main Street, Madison
June 2018, Saxum added to its growing portfolio with the acquisition of 345 Main St, Madison, NJ. Located at 345 Main St, also known as the Madison Professional Center, is a 19,700 square foot, flagship medical office building located in downtown Madison. The property is complimented by its superior construction quality and unrivaled frontage on Main Street.
Saxum acquired the property in partnership with two leading physician groups, which leased back all remaining vacancy in the building under long-term leases. As a result, upon transaction close, Saxum brought the building from 47% occupancy to 100% occupancy and achieved an Average Weighted Lease Term of over 8 years.