Northern New Jersey medical office trades for $7.9M

MORRISTOWN, N.J., June 11, 2026 - JLL Capital Markets announced today that it has arranged the $7.9 million sale of 601 Hamburg, a 37,770-square-foot medical office building in Wayne, New Jersey.

JLL marketed the property on behalf of the seller, March Associates, and procured the buyer, Pinnacle Group of Hudson Valley.

The three-story property was developed in 2002 by March Associates, who has occupied a portion of the property as its corporate headquarters since that time. Outside of March Associates, 601 Hamburg is 97% leased to mostly medical tenants, including Denville Diagnostics/Star MRI, Wayne Dental Arts and Spectrum Therapeutics. 601 Hamburg benefits from its location in a strong medical market just one mile from St. Joseph's Hospital as well as its highly accessible location off Hamburg Turnpike.

JLL's Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Jeremy Neuer, Director Michael Kavaler, Senior Director JB Bruno and Senior Analyst Cody Johnson.

"We continue to see robust investor interest for well-located medical office buildings in the suburban tri-state," said Kavaler. "The quality of the asset and tenancy combined with the positive fundamentals of the northern New Jersey medical market drove a competitive field resulting in a strong execution."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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