Value-Add Office with In-Place Rental Income 190 N Evergreen Ave 3 720 m² 38 % Loué Bureau Vente aux enchères en ligne Woodbury, NJ 08096

CBRE has been retained as the exclusive advisor for the sale of Lakeside Professional Campus, a multi-tenant office property located at 190 N. Evergreen Avenue in Woodbury, New Jersey. Discover this incredible opportunity to acquire a well-maintained 40,039-square-foot professional office asset situated on 3.26 acres on the shores of Stewart Lake in Gloucester County. Currently ±38% occupied, the waterfront property offers immediate in-place rental income alongside 24,702 square feet of vacant space, creating a compelling value-add investment opportunity with significant leasing upside. Lakeside Professional Campus consists of three buildings originally constructed in 1965 and 1970 as the Greenbriar Convalescent and Nursing Home before being converted for office use between 1990 and 1995. Two of
the buildings feature two-story sections, and all three offer private suite entrances and lobbies with ample on-site parking. The property maintains a diverse tenant base across healthcare, education, and service-oriented industries, providing a solid foundation while offering significant upside potential for occupancy and revenue growth under new ownership.

Positioned along Evergreen Avenue with visibility to more than 12,500 vehicles per day, Lakeside Professional Campus benefits from exceptional regional accessibility. The property is conveniently located near Interstate 295, Route 45, and the New Jersey Turnpike, while the Walt Whitman Bridge is only 10 minutes away, providing direct access to Philadelphia and Philadelphia International Airport. Nearby demand drivers include Inspira Medical Center, the Gloucester County Courthouse, and the Woodbury train station, placing the asset within a well-established professional and medical corridor in Woodbury, the county seat of Gloucester County.

Lakeside Professional Campus further benefits from strong surrounding market fundamentals. The surrounding office submarket reports just 4.8% vacancy and a construction pipeline that remains below historical averages, limiting future competitive supply. Office rents have increased by an average of 2.7% annually over the past five years, creating a strong backdrop for leasing activity and rental rate growth as occupancy increases. More than 70,000 residents live within a 3-mile radius and earn an average household income exceeding $105,000, generating over $895 million in annual consumer spending. An accessible daytime workforce of more than 33,000 employees further supports office demand, making Lakeside Professional Campus a rare opportunity to acquire a partially leased asset with going-in cash flow, substantial lease-up potential, and exposure to a supply-constrained office market.

Beyond the existing 40,039 square feet of rentable area, the Property contains approximately 15,840 square feet of additional shell space shown on the building plans that is currently excluded from the rentable area calculation. Although the space will require more significant renovation prior to occupancy, it offers investors a substantial embedded value-add opportunity. The ability to potentially convert this currently non-income-producing area into marketable rentable space creates a compelling avenue for future NOI growth.

Property tours are by appointment only. Please contact the listing broker to schedule.