Marcus & Millichap on Monday announced the $6.7 million sale of Chews Landing Commons, a seven-building medical office campus located in Clementon. The deal highlights the continued demand for well-maintained medical office properties in the region.
The 44,500-square-foot campus, situated on 6.1 acres at 1365–1403 Chews Landing Road, was a desirable asset for investors due to its 96% occupancy rate and its focus on medical and behavioral health tenants. Key tenants include 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,” Brent Hyldahl, managing director investments in Marcus & Millichap’s New Jersey office, said. “Chews offered the buyer a well-maintained, income-producing investment with healthy scheduled rental growth.”
The sale was brokered by Hyldahl and Alan Cafiero, a senior managing director investments, who represented the seller, Chews Landing LLC.
The location is highly accessible, situated along Chews Landing Road, which sees over 8,000 vehicles per day. It is also close to major highways, including the North-South Freeway, New Jersey Turnpike, and Interstate 295, and is just minutes from the Walt Whitman Bridge, which connects southern New Jersey to Philadelphia. The surrounding area has an average household income of more than $123,000 within a one-mile radius.
