The property's attraction is that local officials have approvedthe site for up to 450 units of seniors housing. "Recognizing thatalmost a quarter of the local population is approaching 55 yearsand older, the Vineland Planning Commission recently approved thissite for age-restricted housing," says David Jarjisian, who'smarketing the property with CBRE colleagues Kathie Carr, GeraldZimmer and Jon Sarkisian.

The site contains existing building stock, including the1890s-vintage Training School at Vineland, a three-story, 10-roombrick structure that has, for a number of years, served as aregional campus for Elwyn. The site's clients have largely beenintegrated into mainstream programs in Greater Philadelphia,turning it into surplus property.

"Both the State of New Jersey and local private developers haveinvested large sums of money in Vineland and the immediate area,"Jarjisian says. "Ongoing new development, including new retail andhealthcare amenities, will make this proposed project even moreattractive."