A longtime bank property along Route 70 in Cherry Hill will soon give way to a new medical office development.
The 1.11-acre property sits at Wexford Drive near the entrance to the Wexford Leas neighborhood.
In August, the Cherry Hill Planning Board approved preliminary and final site plans for the redevelopment. The decision was formally memorialized later that month.
Under the approved plans, the vacant bank building will be demolished. In its place, the developer will construct a 6,000-square-foot medical office.
Notably, medical office use is already permitted under the property’s existing zoning.
The bank building has remained a recognizable Route 70 landmark for approximately 50 years. Originally, the property was developed around 1975.
More recently, Investors Bank occupied the building. Before that, Roma Bank and several other financial institutions operated from the site.
In March 2024, 1951 Wexford Real Estate Holdings LLC purchased the property for $1.13 million.
As part of the approval process, the developer agreed to several conditions. For example, no more than nine doctors may operate from the property.
Furthermore, the existing buffer along the rear of the site must remain in place.
The project represents another example of older commercial real estate finding new uses across South Jersey.
At the same time, medical providers continue seeking accessible locations near established residential communities. Major commercial corridors also provide visibility and convenient regional access.
Route 70 offers both advantages throughout Cherry Hill and surrounding communities.
Once completed, the project will replace a vacant commercial property with new healthcare space. In turn, the redevelopment could bring renewed activity to a prominent Route 70 location.
For more information about Cherry Hill medical space for sale or lease or about any other Cherry Hill properties for sale or lease, please contact WCRE at 215-799-6900.
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