1235 Parkway Ave. in Ewing — Courtesy: NAI Fennelly
By Joshua Burd
The longtime owner of a 27,000-square-foot medical office building in Ewing has sold the property for $1.8 million, according to brokerage firm NAI Fennelly.
The seller, Nexus Properties, completed the deal at 1235 Parkway Ave. as part of a plan to reposition its portfolio under its second generation of leadership, NAI Fennelly said. An undisclosed buyer purchased the building, which sits on 3.5 acres with easy access to Route 29 and interstates 95 and 295.
“The local Ewing market remains challenging, but our relationships in this area provide us with the insights and resources needed to continue to close deals on our clients’ behalf,” said Jerry Fennelly, president of the Hamilton-based brokerage firm. “I am pleased that Nexus properties continues to place their trust in the NAI Fennelly team to bring deals across the finish line as they look to accomplish their business goals in an increasingly complex market.”
In a news release, Fennelly noted that 1235 Parkway Ave. is close to the NJ Transit, SEPTA and Amtrak lines available at the Trenton Transit Center, while allowing tenants to reach the housing, dining and shopping options in both New Jersey and Pennsylvania. Nexus Properties had owned the property for more than 50 years before the sale, which comes as it seeks to shed its noncore assets and refocus on multifamily investment.
