Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Sept. 22 the sale of Chews Landing Commons, a seven-building medical office campus in Clementon, for $6.7 million.
Chews Landing Commons is located at 1365–1403 Chews Landing Road and totals 44,500 square feet across 6.1 acres. The property is 96% occupied and anchored by medical and behavioral health tenants including NovaCare Rehabilitation Center, Victory Bay Recovery Center and Harmony Bay Wellness.
“This property drew strong investor interest due to its established medical tenancy, consistent occupancy and proximity to major healthcare systems in southern New Jersey,” said Brent Hyldahl, managing director investments in Marcus & Millichap’s New Jersey office. “Chews offered the buyer a well-maintained, income-producing investment with healthy scheduled rental growth.”
Hyldahl and Alan Cafiero, senior managing director investments, represented the seller, Chews Landing LLC.
The office park is along Chews Landing Road, which sees more than 8,000 vehicles per day, and is near the North-South Freeway, New Jersey Turnpike and Interstate 295. It is minutes from the Walt Whitman Bridge, connecting southern New Jersey to Philadelphia. The average household income within 1 mile is more than $123,000.
