12B — October 16 - 29, 2020 — Southern New Jersey — M id A tlantic Real Estate Journal
S outhern NJ
Bluview Properties LLC purchases building for $600,000 Markeim Chalmers represents seller of 5,000 s/f standalone office building in Collingswood C
distance to shopping, restau- rants, banking and other local amenities are just two of the features that attracted buyer, Bluview Properties LLC. The advertising firm, which is relocating from Philadelphia, will utilize the entire property. In addition the prime location, other features include great signage and 10 parking spaces. The sale closed on September 17, 2020 for $600,000. MAREJ Marcus &Millichap arranges the sale of a 26,249 s/f office building MEDFORD, NJ — Mar- cus & Millichap announced today the sale of The Iron- stone Medical & Professional Building, a 26,249 s/f office property located in Medford, according to Sean Beuche , regional manager of the firm’s Philadelphia office. The asset sold for $2.075 million. Lawrence Gariano and Michael Hinchman , invest- ment specialists in Marcus & Millichap’s Philadelphia of- fice, had the listing to market the property on behalf of the seller, a limited liability com- pany. The buyer, a developer, was also secured and repre- sented by Lawrence Gariano, Michael A. Hinchman , and Jeremy Berinson , invest- ment specialists in Marcus & Millichap’s Philadelphia office. Brian Hosey , district man- ager and NJ Broker, assisted in closing this transaction. The Ironstone Medical & Professional Building, located at 520 Stokes Rd in Medford, NJ, is home to a variety of lo- cal businesses which include some of Medford’s most rec- ognizable names in medicine and dentistry. When asked about getting to settlement amidst a volatile time for the market, Michael Hinch- man responded “while the investment community has traditionally placed a pre- mium on national tenants and investment grade credit, properties with established local and regional tenants have performed tremendously well during the pandemic. Ad- ditionally, recent data show office rent collections in this sub-market exceeding those of apartments for June and July, so we feel the outlook for suburban office is particularly bright”. MAREJ
OLLINGSWOOD, NJ — Markeim Chalm- ers, Inc ., one of the leading commercial real es- tate, appraisals and prop- erty management firms in the Philadelphia Metropolitan Area, announced the following transaction in Collingswood. Kevin Burns , senior vice president at Markeim Chalm- ers, negotiated the sale of 931 Haddon Ave. in Colling- swood, representing the seller of this 5,000 s/f standalone office building. Located in the downtown business and shopping district, its proxim- ity to to PATCO and walking
931 Haddon Avenue, Collingswood
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