Completed transactions mark the conclusion of 33-year relationship between the firm and Neuman family
Hamilton, N.J. (April 12, 2023) – Fennelly Associates announces the $8M sale of 3575 Quakerbridge Road, a 59,000-square-foot medical office building in Hamilton, N.J. and the $3.1M sale of 72,500 square feet of medical office condos at White Horse Executive Center located at 1225-1255 Whitehorse Mercerville Road in Hamilton, N.J. Jerry Fennelly, SIOR, President of Fennelly Associates, represented the seller, the Neuman family, in both transactions as the firm concluded its 33-year relationship with the family.
A client of Fennelly Associates since 1990, the Neuman family has long trusted Fennelly Associates to provide the commercial real estate solutions needed to find value in continually evolving market conditions. Fennelly Associates’ relationship with the Neuman family began over three decades ago when the firm was tapped to help the family lease medical office properties in central N.J. Following its success in strengthening the family’s portfolio, Fennelly Associates was continually tapped to provide the brokerage services needed to attract and secure tenants including Children’s Specialized Hospital and Rothman Orthopaedic Institute.
Similar to other long-term, family-owned real estate asset holders around the state, the Neuman family looked to sell off assets to capitalize on prosperous market conditions as they near retirement age. Building on their relationship, they selected Fennelly Associates to implement a strategic and data-driven approach to find and secure reputable buyers for 3575 Quakerbridge Road as well as 30 medical office condos combining for 72,500 square feet at Whitehorse Executive Center.
“Since the start of our relationship with the Neuman family, the commercial real estate market has changed dramatically in the central New Jersey area,” said Fennelly. “It’s been a privilege to work alongside the Neuman family as we helped them navigate the ups and downs of the market over the past three decades. While our professional relationship may be nearing its conclusion, I look back proudly at all we accomplished together and wish them the best of luck in retirement and all that lies ahead.”
Built in 2004, 3575 Quakerbridge Road is a two-story, 59,000-square-foot medical office building centrally located between Princeton and Trenton with proximity to Route 33, Interstates 1 and 295 and the New Jersey Turnpike. Located less than five miles from 3575 Quakerbridge Road, Whitehorse Executive Center is a four-building, 125,924-square-foot office park devoted primarily to medical offices.
