WCRE: South Jersey Medical Space Shows Rental Rate Uptick

Wolf Commercial Real Estate reports the Southern New Jersey medical space market experienced a positive uptick in rental rates in 2012, even though overall medical real estate vacancy rates remain stuck where they have been for four years — at 20% or higher.

Southern New Jersey medical space rental rates have increased on average from $7-to-$9 per square foot NNN to the $11-to-$13 per-square-foot NNN range, according to a year-to-date report from the Voorhees NJ-based company.

“Even with the high vacancy rates, great locations are performing well and causing rents to increase,” the report said, adding: “This is now starting to trickle into the markets with struggling vacancies.”

Nonetheless, it remains a tenants’ market. Tenants in the market for 10,000-40,000 square feet who are considering a “flight-to-quality” have ample opportunity to negotiate on rent for Class A South Jersey medical space, Wolf notes. The stubbornly high South Jersey office vacancy rate continues to enable all tenants to negotiate for better lease terms.

“Even with slow economic recovery underway, this pattern is expected to continue until the market sees significant positive absorption and a better jobs outlook,” the WCRE analysis said.

Wolf Commercial Real Estate surveyed availabilities at class A and B buildings with up to 100,000 square feet in Cherry Hill, Marlton, Moorestown, Mount Laurel, Pennsauken and Voorhees. Overall, Mount Laurel had the most Southern New Jersey medical space available of any of these communities, with almost 50 offices of 10,000 square feet or less currently on the market, along with a significant supply of larger offices.

Tenants with leases coming due in the next two years should continue to review their leases, operating expenses, and the overall market for opportunity. WCRE can create individualized and highly detailed solutions to help in several ways:

* WCRE can analyze your current lease situation and determine whether and when it would be prudent to relocate to quality or renegotiate more favorable terms on existing space.

* WCRE will create a valuation matrix that includes your financial situation, property needs, and available alternatives.

* WCRE can develop negotiating strategies based upon our extensive knowledge of the market and the financial position and reputation of individual landlords.

* For tenants with a remaining lease obligation, WCRE can negotiate a restructuring or early termination of the lease, or we can represent you in a sublease arrangement.

If you have a need for South Jersey medical space, a lease expiration coming due, or want to learn more about these opportunities, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey Commercial Real Estate Brokerage and Advisory firm. As medical space brokerage and advisory experts inSouthern New Jersey, our team provides ongoing information to our clients and prospects to help them achieve bottom line savings, reduce their costs, and mitigate their levels of risk.

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, industrial and investment properties in Southern New Jersey, the Philadelphia region or anywhere in the country. We provide a complete range of real estate services to commercial property owners, companies, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/> and www.southjerseyretailspace.com<http://www.southjerseyretailspace.com/>.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties and retail buildings for buyers, tenants, investors and sellers. Please visit our websites for listings of Southern New Jersey commercial real estate for lease or purchase or for information about office space, retail space or medical space for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

WCRE Landlord and Owner Representation – Medical

Wolf Commercial Real Estate (WCRE), headquartered in Southern New Jersey, is a full-service commercial real estate advisory firm specializing in office, retail, industrial and investment properties. WCRE specializes in helping companies and individuals sell and/or lease their medical space in Southern New Jersey, the Philadelphia region, or anywhere in the country.

WCRE helps property owners and landlords sell and/or lease their medical office space using a defined marketing process that we tailor to each property and sub-market with a very detailed, fundamental approach. Some examples of the steps in our process include distributing a detailed professional press release, creating brokerage community awareness about the medical property, online outreach, social media, and targeting prospects within relevant industries. Wolf Commercial Real Estate professionals have the local experience to treat your medical properties as if they were our own. We are hands on and responsive to our clients’ needs and goals.

For more information about owner representation, landlord representation or medical space for sale or lease in Southern New Jersey, the Philadelphia region or anywhere in the country, contact either Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey Commercial Real Estate Brokerage and Advisory firm.

Wolf Commercial Real Estate (WCRE) is a full-service Southern New Jersey and Philadelphia region commercial real estate brokerage and advisory firm specializing in Southern New Jersey and Philadelphia commercial offices, medical properties and retail buildings for buyers, tenants, investors and sellers. Please click the links below for listings of Southern New Jersey commercial real estate for lease or purchase or for information about office, retail or medical space for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

South Jersey Medical Offices For Lease

Wolf Commercial Real Estate (WCRE) has a listing for prime South Jersey medical space that is immediately available for lease and occupancy at 712 Haddonfield Road in Cherry Hill.

These 1,250-2,700 square-foot, first-floor South Jersey medical offices for lease are perfect for either medical or general office use.  This South Jersey medical space in Cherry Hill has an asking lease rate of $18.00/sf gross, plus utilities and janitorial services.

With an average daily traffic count on Haddonfield Road in Cherry Hill of just under 30,000 vehicles a day, these South Jersey medical offices for lease sit in the middle of a three-mile population radius of more than 135,000 potential customers.

This South Jersey medical office space is directly across from the power retail center on the site of the former Garden State Racetrack.  There is convenient, immediate access from these South Jersey medical offices for lease to Routes 70 and 38 as well as to Kennedy Hospital-Cherry Hill and both the Lourdes and Cooper health systems in nearby Camden.

For more information about this Cherry Hill medical space for lease at 712 Haddonfield Road in Cherry Hill or other medical, office or retail properties for sale or lease in Cherry Hill, Southern New Jersey and the Philadelphia region, contact either Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a New Jersey commercial broker.

Wolf Commercial Real Estate (WCRE) is a full-service Southern New Jersey and Philadelphia region commercial real estate brokerage and advisory firm specializing in Southern New Jersey and Philadelphia commercial offices, retail properties and buildings for buyers, tenants, investors and sellers. Please click the links below for listings of Southern Jersey commercial real estate for lease or purchase or for information about medical, office or retail space for sale or lease.

Click Here for Office Listings

Click Here for Retail Listings

WCRE Tenant Representation -Medical

For companies and individuals seeking new medical office space in Southern New Jersey, the Philadelphia region, or anywhere in the country, Wolf Commercial Real Estate (WCRE) can help you find the medical space that best meets your needs.

WCRE will ensure that the sale or lease terms of the medical office space are the best fit with your goals. Wolf Commercial Real Estate’s approach is to help our clients from beginning to end in their search for new medical properties.

We start by understanding the goals you have for your new medical office space, and then we offer a full range of services that will take you all the way to move-in assistance. WCRE will survey building options to ensure you qualify for the right medical space for sale or lease. To help you select the best medical office space, we perform employee ZIP code analysis, employee commuting optimization, space plan programming, property tours, site identification, requests for proposals, property comparison cost analysis, lease negotiation, and construction cost review.

For more information about medical space for sale or lease in Southern New Jersey, the Philadelphia region or anywhere in the country, contact either Jason Wolf (856-857-6301;jason.wolf@wolfcre.com) or Leor Hemo (856-857-6302;leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey Commercial Brokerage and Advisory firm.

Wolf Commercial Real Estate (WCRE) is a full-service Southern New Jersey and Philadelphia region commercial real estate brokerage and advisory firm specializing in Southern New Jersey and Philadelphia commercial offices, medical properties and retail buildings for buyers, tenants, investors and sellers. Please click the links below for listings of Southern New Jersey commercial real estate for lease or purchase or for information about office, retail or medical space for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

Click Here for Office Listings

Click Here for Retail Listings

 

South Jersey Medical Space For Lease

This premier South Jersey medical space at 1401 East Marlton Pike in Cherry Hill, NJ, now is available for lease from Wolf Commercial Real Estate (WCRE).

This South Jersey medical space for lease is available in units from 774 sf to 2,126 sf and is available for immediate occupancy.  The asking lease price for this South Jersey medical space is $18.00/sf plus utilities and janitorial.

There is abundant parking at this South Jersey medical space for lease at 1401 East Marlton Pike in Cherry Hill, NJ, at 6/1000.

This South Jersey medical space is located on Route 70 next to the Barclay Shopping Center, providing immediate access to I-295, providing for convenient North/South access.  This South Jersey medical space for lease is conveniently located within minute’s drive to all local South Jersey health systems (Virtua, Lourdes, Kennedy, UNDNJ and Cooper).

An average of nearly 62,000 vehicles a day drive by this Cherry Hill NJ medical space for lease at 1401 East Marlton Pike and nearly 86,000 residents live within a three-mile radius of this South Jersey medical space.

For more information about this Southern New Jersey medical office space for lease at 1401 East Marlton Pike or other medical, office or retail properties for sale or lease in Cherry Hill, Southern New Jersey and the Philadelphia region, contact either Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) or Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, a Southern New Jersey Commercial Realtor.

Wolf Commercial Real Estate (WCRE) is a full-service Southern New Jersey and Philadelphia region commercial real estate brokerage and advisory firm specializing in Southern New Jersey and Philadelphia commercial offices, retail properties and buildings for buyers, tenants, investors and sellers. Please click the links below for listings of Southern New Jersey commercial real estate for lease or purchase or for information about retail or office space for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

Click Here for Office Listings

Click Here for Retail Listings

 

New Listings for South Jersey Medical Office Space

Wolf Commercial Real Estate has recently listed a number of new South Jersey Medical Office spaces for rent. We post our newest listings on our Website at www.WolfCRE.com. We have a number of medical offices for rent in desirable communities throughout South Jersey. If you are looking to rent medical office space in South Jersey. we would love to help you.

New listings include but are not limited to:

  • Medical Office Space in Voorhees
  • Medical Office Space in Moorestown
  • Medical Office Space in Marlton
  • Medical Office Space in Pennsauken
  • Medical Office Space in Haddon Heights
  • Medical Office Space in Collingswood
  • Medical Office Space in Haddonfield
  • Medical Office Space in Turnersville

Contact Us to learn more about medical office space available in these communities.