BLACKWOOD, NJ-Marcus & Millichap orchestrated the $37.1 million sale of the Camden County Health Services Center after two auctions.

The center includes a 300-bed skilled nursing facility and a 150-bed acute care psychiatric unit. It was sold to Ocean Healthcare.

The sale was conducted via two open-outcry auctions. The second auction drew the highest price, concluding for more than $11 million over the $26 million minimum bid. Seven bidders participated.

The county, which was the seller in the transaction, was represented by Mark Myers, Joshua Jandris and Charles Hilding of M&M's Chicago O'Hare office, along with Ben Sgambati of the firm's New Jersey office.

“The acquisition presents the new owner with an opportunity to create specialty uses within the campus,” said Jandris.

The 226,000-square-foot facility is located at 20 N. Woodbury-Turnersville Road. Blackwood is situated about 15 miles from both Philadelphia and Cherry Hill.

The Camden County Health Services Center was built in 1996 on 25 acres. The psychiatric unit will be leased by the county, with an option by the buyer to terminate the lease with notice.

The center was 94% at the time of the sale.