Medical at RiverWinds at 196-204 Grove Ave. in Deptford — Courtesy: Marcus & Millichap
By Joshua Burd
Strategic Funding Alternatives LLC has sold a nearly 24,000-square-foot medical and retail property in Deptford Township for $5.375 million, in a deal arranged by Marcus & Millichap.
According to the brokerage team, the complex at 196-204 Grove Ave. consists of two fully occupied buildings with tenants such as Cooper University Health, Virtua Health, Advance Radiology and Columbia Bank. That helped draw interest from would-be investors, as did its location at a signalized intersection and the entrance of a senior living community.
Marcus & Millichap’s Brent Hyldahl, Alan Cafiero and Seth Goldberg listed the 23,525-square-foot property, which sits on 2.18 acres, on the seller’s behalf. The New Jersey-based brokers also procured the buyer, a New York-based private investor.
“We’re very happy to announce the sale of Medical at RiverWinds in West Deptford, New Jersey. We had significant activity on this deal due to the property’s overall condition and strong tenant roster,” said Hyldahl, a first vice president for investments with Marcus. “Positioned at the entrance of the RiverWinds Senior Living Community, the property benefits from a steady stream of potential patients and clients, ensuring long-term demand for its services. This sale highlights the growing appeal of well-located, high-quality medical properties, a sector that continues to capture strong investor attention.”
