By Joshua Burd
An orthopedic practice has acquired a 12,000-square-foot office building in Cherry Hill for $1.2 million, real estate services firm Colliers International said.
In a news release, the firm said brokers in its Mount Laurel office represented an entity related to Regional Orthopedic in the acquisition of 499 Cooper Landing Road. The practice now plans to convert the two-story building into a new medical office facility.
Evan Zweben, a senior vice president with Colliers, represented the buyer, while Kevin Burns of Markeim-Chalmers represented the seller.
The property is immediately adjacent to Kennedy Hospital’s Cherry Hill campus, which is in the midst of a $100 million campus expansion and renovation project, the news release said. Prior to the sale, the building was occupied by Oaks Integrated Care, a private, nonprofit organization dedicated to improving the quality of life for vulnerable adults, children and families throughout New Jersey.
“This is an exciting time for our practice. We are eagerly awaiting opening the new office and continuing to provide first class medical care for our patients,” Barbara Bailey, Regional Orthopedics’ practice administrator, said in a prepared statement. “From the first time Evan drove me through the market, I could tell he had listened to our wants and needs, and I felt like we were in good hands.
“He proved to be the right choice for our practice. His diligence, knowledge about the market, and attention to detail resulted in a smooth, worry-free transaction.”