55 Haddonfield Road in Cherry Hill — Courtesy: Colliers International
By Joshua Burd
The state of New Jersey has leased nearly 62,000 square feet at a Cherry Hill office park, brokers with Colliers International announced Tuesday.
The real estate services firm said the state would occupy all of 55 Haddonfield Road, which is owned by Colwick Property LLC, an affiliate of Endurance Real Estate Group and Blue Vista Capital Management. The space is one of three buildings at the Colwick Business Center, a 174,658-square-foot complex.
Colliers International’s Brian Sherlock, Evan Zweben and Christina Del Duca represented the landlord in the full-building lease.
“This lease fills a huge block of vacancy in the market and raises the complex’s occupancy rate to 90 percent,” said Albert J. Corr, senior vice president of Endurance. “The building’s efficient layout and unmatched location are ideally suited for this type of tenant.
“Colwick is adjacent to the Cherry Hill Mall, which enables all of our tenants to benefit from the rich amenity base in the immediate surrounding area.”
Several state agencies will occupy the building, Colliers said. Construction of the space is underway, with occupancy slated for late summer.
The lease follows another recent commitment at the Colwick Business Center, which Colliers also brokered on behalf of Endurance. The firm said Virtua Physical Therapy and Rehabilitation leased 5,025 square feet at 53 Haddonfield Road.