601 Hamburg Turnpike in Wayne — Courtesy: JLL
By Joshua Burd
The owner of a well-known medical office building in Wayne has listed the nearly 38,000-square-foot asset for sale, brokers with JLL announced this week.
According to the listing team, the three-story property at 601 Hamburg Turnpike “offers multiple avenues of value-enhancement potential.” That includes the conversion of the remaining traditional office into medical space and bringing those rents to market levels, JLL said, noting that in-place rates average $28.79 per square foot while market rents exceed $34 per square foot.
The firm added that the 37,770-square-foot building is currently 96.9 percent leased, with 54.6 percent of the current rent roll occupied by health care tenants and 35.6 percent by March Associates Construction. The provides would-be investors with “an opportunity to acquire a well-located and owner/user-maintained medical building with strong in-place cash flow and significant upside potential.”
JLL’s Jeremy Neuer, Michael Kavaler, JB Bruno and Jose Cruz lead the listing team for the property, which was built in 2002 and has 173 parking spaces, with support from financing specialists Max Custer and Ryan Carroll and leasing broker Blake Goodman.
