July 7, 2023
EAST WINDSOR, NJ (MERCER)–Fennelly Associates, one of New Jersey and Pennsylvania’s most experienced and successful independent full-service commercial real estate service providers, announces they have negotiated the sale of a single-tenant, long-term leased 10,000-square-foot medical office building located at 59 One Mile Road in East Windsor, N.J. for $2.95M. Fennelly Associates President Jerry Fennelly, SIOR, and Corporate Real Estate Specialist Patrick Dintrone, SIOR, represented the seller and Frank Gunsberg of Colliers International represented the buyer in the transaction.
Located just off Route 130 less than two miles from Exit 8 on the New Jersey Turnpike, 59 One Mile Road is a two-story medical office building featuring 47 parking spaces. The building’s ideal location and favorable local demographics make it a perfect home for an office of Schweiger Dermatology, the largest dermatology practice in the region, with over 90 offices and more than 300 healthcare providers throughout New York, New Jersey, Pennsylvania and Connecticut. Long-term leased to a credit-grade tenant, the buyer recognized 59 One Mile Road as a favorable long-term investment to satisfy a 1031 exchange requirement and worked closely with Fennelly Associates to negotiate a purchase.
“The opportunity to acquire a fully-leased medical office building in the heart of the dynamic Mercer County market is rare,” said Fennelly. “In such a competitive market, it’s critical for sellers to work with an experienced team who can seamlessly and efficiently bring a property to the market and secure the highest fair market value.”
