Medical office building fetches $2.9 million in Cherry Hill

Jun 13, 2017 | Deals, Education, Office

By Joshua Burd

An investor has paid $2.9 million to acquire a 40,000-square-foot medical office building in Cherry Hill, according to commercial real estate firm Markeim Chalmers Inc.

The firm, which is based in the township, represented both parties in the sale of 1101 Kings Highway North. It identified the buyer and seller as 1101 N Kings Highway LLC and 1101 Associates LLC, respectively.

Kevin Burns, senior vice president of Markeim, brokered the deal

The four-story, multitenant building is 100 percent occupied, Markeim Chalmers Inc. said in a news release. Its new owner plans to renovate the property’s common areas.

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Joshua Burd

Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.