390 North Broadway, Pennsville, NJ
WCRE | CORFAC International is pleased to announce the sale of a 28,162-square-foot medical office building at 390 North Broadway in Pennsville, New Jersey.
Nutmeg Financial Holdings sold the property to L & D Industries, a New York City-based value-add investment group. The acquisition aligns with the buyer’s investment strategy, which focuses on properties with established tenancy and opportunities for future growth.
The property features a strong tenant roster, including regional and national healthcare providers Cooper Health and Labcorp. These established tenants, combined with limited competing office inventory in the Pennsville market, made the asset an attractive investment opportunity.
L & D Industries plans to pursue lease extensions with existing major tenants while implementing capital improvements to vacant spaces. The buyer anticipates these improvements will help attract new tenants, strengthen leasing momentum, and increase occupancy throughout the property.
The transaction highlights the appeal of medical office investments that combine established healthcare tenancy with value-add potential. Properties offering stable occupancy and opportunities for repositioning continue to attract investors seeking long-term growth.
WCRE’s Bethany Brown, Executive Vice President, represented the Seller in the transaction.
