244 Route 38 in Moorestown — Courtesy: Rose Commercial Real Estate
By Joshua Burd
An education user has sold a 33,000-square-foot building in Moorestown and leased a new space just miles away, in a set of transactions arranged by Rose Commercial Real Estate.
In a news release, the brokerage firm said it represented Kingsway Learning Center in its disposition of the facility at 244 Route 38, noting that the site includes about four developable acres at the Pleasant Valley Avenue intersection. An undisclosed buyer, which is also in the education sector, paid $3.2 million for the property in a deal that closed in mid-August.
Kingsway Learning Center, which serves adults with special needs, subsequently leased 20,000 square feet at 6000 Lincoln Drive in the Marlton section of Evesham, the news release said. It will occupy the space, which is owned by Fred Giuliano, starting early next year.
Rose Commercial Director of Business Development Jeff Lucas represented KLC in both deals, noting that the organization will remain a tenant in Moorestown while the new space is retrofitted.
