By Joshua Burd
A local investor has sold a medical office condominium in Gloucester County for nearly $4 million, in a newly announced transaction by Avison Young.
Located at 570 Egg Harbor Road in the Sewell section of Mantua Township, the condo features 15,000 square feet of space that is across from the Jefferson Washington Township Hospital, according to a news release. The facility, part of the 14-year-old Harbor Pavilions complex, is leased to the Rowan University School of Osteopathic Medicine and Reconstructive Orthopedics.
“This was an outstanding opportunity to invest in the kind of premier medical office complex that rarely becomes available,” said Avison Young Principal Scott Martin, who represented both parties in the off-market, $3.75 million sale. “It was an excellent off-market deal for both the buyer and the seller.”
The buyer is a local doctor, Martin said, touting the building’s proximity to a mix of medical offices, stores, banks and restaurants.
