Fennelly Associates sold a 3,400-square-foot medical office building in Hamilton, according to a Wednesday announcement.
Fennelly Associates’ Matt Fennelly, corporate real estate specialist, represented the seller, Advanced Family Dentistry LLC, in the transaction with a private buyer who was represented by Stephen Kaplan of Keller Williams – Princeton.
Terms of the transaction were not announced.
Located at 2131 Route 33, less than five minutes from downtown Robbinsville, the asset is within a building zoned for multiple uses including day care, dentistry, medical, pharmacy and office. Featuring proximity to Route 130, Interstates 195 and 295 and the New Jersey Turnpike, the property has two medical tenants with long-term leases in place.
Tapped to market the fully vacant property in 2020, Fennelly Associates successfully negotiated two separate medical office leases with a local dentistry practice and a mental health therapy franchise by July 2021. With the property fully leased, Fennelly Associates was asked to market the property for sale as a valuable real estate investment property. Through the firm’s deep understanding of the central New Jersey medical office market and extensive marketing campaign, Fennelly Associates attracted a buyer to the property and negotiated a sale on their client’s behalf.
“Medical office buildings continue to be a hot commodity, especially those with tremendous visibility and accessibility in a given marketplace” Fennelly said. “After utilizing our abilities to fully lease the property, our client decided to test the market and list the property for sale. Considering each property owner has unique plans for their asset, we’re proud to provide the services needed for our clients to accomplish their real estate goals.”