211 Benigno Blvd. in Bellmawr — Courtesy: NAI Mertz
By Joshua Burd
A buyer has paid $1.8 million to acquire a 40,000-square-foot office building in Camden County, in a newly completed transaction by NAI Mertz.
The brokerage firm announced this week that Yada Property Management had purchased the property, 211 Benigno Blvd. in Bellmawr, from Choice Services International LLC. NAI Mertz President Scott Mertz completed the sale, noting that the two-story property is part of the 40-building Interstate Business Park.
“I am pleased to have completed the sale of this property working directly with both the buyer and the seller to negotiate a win-win transaction,” Mertz said. “This building is ideally situated within Interstate Business Park and offers ideal space configurations for efficient floor planning, as businesses begin to slowly bring employees back into the office during these unique times of COVID-19.”
Yada Property Management also has retained NAI Mertz as the property’s leasing agent, according to a news release. Mertz and senior vice presidents Rebecca Ting and Joseph Riggs are now marketing space within the building.
The brokerage team noted that the site is within walking distance of a regional post office and offers immediate access to the New Jersey Turnpike, Interstate 295 and routes 42 and 55. The property is also within a 10-minute drive of Philadelphia via the Walt Whitman Bridge.
“We are happy to have worked with NAI Mertz on this transaction and to have them on-board as the new leasing team,” said Robert Eisenberg, a partner with Yada Property Management. “We are excited for this asset’s potential due both to its superior location and the flexibility that its current vacancies offer prospective tenants. The full floor availability is ideal for the distancing measures required for office life in the age of COVID-19.
“Spacing concerns are also forcing some companies to consider a spoke-hub model with a scaled back headquarters and several outposts in the suburbs. 211 Benigno Boulevard is perfectly positioned for a satellite office for a company based in Philadelphia.”