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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March Associates Construction is a prominent general contracting and construction management firm with over 35 years of experience serving the Tri-State area. The company specializes in a diverse range of projects, including commercial, industrial and multifamily residential developments. Since establishment, March Construction has managed over $8.5 billion worth of commercial construction projects.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.