Ewing, N.J. (October 26, 2021) – Fennelly announces it has negotiated the sale of a 27,000 square foot medical office building located at 1235 Parkway Avenue in Ewing, N.J. for $1.8 million. Jerry Fennelly, SIOR, President of Fennelly represented the seller, Nexus Properties, in the sale to an undisclosed buyer.
1235 Parkway Avenue is a 27,000 square foot medical office building sitting on a 3.5-acre lot with easy access to Route 29 and Interstates 95 and 295. The property is also in proximity to NJ Transit, SEPTA and Amtrak lines at the Trenton Transit Center that enable tenants to reach the abundant mix of housing, dining, and shopping options found in both New Jersey and Pennsylvania. Nexus Properties had owned the property for over 50 years as the company sought to strategically reposition their portfolio.
As the company entered its second generation of family leadership, they sought to pursue the disposition of non-core assets such as 1235 Parkway Avenue and refocus on multifamily investment. Since 2020, Nexus Properties has retained Fennelly’s services to oversee the sale of three other buildings within their portfolio. With deep experience in the Princeton market and a track record of success, Nexus tapped the services of Fennelly to secure a buyer for 1235 Parkway Avenue. Demonstrative of the firm’s results-driven and client-focused approach, Fennelly successfully identified a buyer for the building and brought the deal to completion.
“The local Ewing market remains challenging, but our relationships in this area provide us with the insights and resources needed to continue to close deals on our clients’ behalf,” said Fennelly. “I am pleased that Nexus Properties continues to place their trust in the Fennelly team to bring deals across the finish line as they look to accomplish their business goals in an increasingly complex market.”
