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59 One Mile Road in East Windsor — Courtesy: Fennelly Associates
By Joshua Burd
A private investor has purchased a single-tenant, 10,000-square-foot medical office building in East Windsor, brokers with Fennelly Associates announced Wednesday.
According to the real estate services firm, the two-story property at 59 One Mile Road traded for $2.95 million. Fennelly Associates President Jerry Fennelly and Corporate Real Estate Specialist Patrick Dintrone represented the seller, touting the building’s location just off Route 130 and less than two miles from Exit 8 of the New Jersey Turnpike.
Schweiger Dermatology, which has more than 90 offices and 300 health care providers throughout New York, New Jersey, Pennsylvania and Connecticut, occupies the entire building on a long-term lease.
“The opportunity to acquire a fully leased medical office building in the heart of the dynamic Mercer County market is rare,” Fennelly said. “In such a competitive market, it’s critical for sellers to work with an experienced team who can seamlessly and efficiently bring a property to the market and secure the highest fair market value.”
Colliers Executive Vice President Frank Gunsberg represented the buyer, which used the deal to satisfy a Section 1031 exchange requirement.
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