Chews Landing Commons at 1365–1403 Chews Landing Road in Clementon — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has purchased a nearly 45,000-square-foot medical office campus in Camden County for $6.7 million, brokers with Marcus & Millichap said Monday.
According to the listing team, the portfolio known as Chews Landing Commons includes seven buildings on 6.1 acres at 1365-1403 Chews Landing Road in Clementon. The property is 96 percent occupied and anchored by medical and behavioral health tenants such as NovaCare Rehabilitation Center, Victory Bay Recovery Center and Harmony Bay Wellness.
Marcus & Millichap’s Brent Hyldahl and Alan Cafiero represented the seller, Chews Landing LLC, noting that Chews Landing Road sees more than 8,000 vehicles per day and is near Route 42, the New Jersey Turnpike and Interstate 295. The 44,500-square-foot portfolio is also minutes from the Walt Whitman Bridge, connecting southern New Jersey to Philadelphia, while the average household income within one mile is more than $123,000.
“We are pleased to announce the sale of Chews Landing Commons,” Hyldahl said. “This property drew strong investor interest due to its established medical tenancy, consistent occupancy and proximity to major health care systems in southern New Jersey. Chews offered the buyer a well-maintained, income-producing investment with healthy scheduled rental growth.”
