East Windsor, NJ — Fennelly Associates has negotiated the sale of a single-tenant, long-term leased 10,000 s/f medical office building located at 59 One Mile Rd. in East Windsor 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 less than two miles from Exit 8 on the New Jersey Tpke., 59 One Mile Rd. 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 Rd. 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.”
In a separate transaction, Dintrone, SIOR, represented the seller, Altenburg Piano House, in negotiating the sale of 1911 Brunswick Pike in Lawrenceville. The buyer, Imagine Design Center, was represented by Melanie Elliot of The Melanie Elliot Real Estate Group.
1911 Brunswick Pike is a one-story, 4,015 s/f retail building with ten on-site parking spaces. The property is also easily accessible to Rtes. 1 and 206 as well as I- 295 and provides superior visibility to the Lawrenceville community.
The seller, who previously operated a piano showroom at the property, selected Fennelly Associates as the exclusive brokerage firm for the property. Fennelly Associates then utilized a strategic marketing plan to attract prospective tenants to the property. The buyer took an interest in the property’s adaptability and will utilize the space to operate its offices and a showroom for their home remodeling business.
“Across all asset classes, it’s important that users secure space that fits their unique needs and puts them in a position to succeed,” said Dintrone. “In this case, the buyer appreciated the property’s showroom capabilities as well as its visibility along a highly-traffic route in Lawrenceville. We’re thrilled to have brought together two parties who were interested in getting a deal done and helping them achieve their respective real estate goals.”
In a separate transaction, Fennelly Associates has negotiated the sale of 1911 Brunswick Pike in Lawrenceville. Fennelly Associates’ Dintrone, SIOR, represented seller, Altenburg Piano House, in the transaction with the buyer, Imagine Design Center, who was represented by Melanie Elliott of The Melanie Elliott Real Estate Group.