The newly dubbed Fellowship Corporate Center in Mount Laurel spans 234,563 square feet across four buildings: 300, 302, 330 and 350 Fellowship Road. — Courtesy: Nessel Development
By Joshua Burd
An investment firm has acquired a four-building, 234,563-square-foot office campus in Mount Laurel, with plans to rebrand and upgrade the property as it looks to attract new tenants.
The Dallas-based buyer, Nessel Development, on Wednesday announced its purchase of the 20-acre campus at 300, 302, 330 and 350 Fellowship Road. The firm noted that the portfolio is currently 76 percent occupied but will be 90 percent leased by summer’s end, as it transitions the former Liberty Walk at East Gate campus to what is now the Fellowship Corporate Center.
Terms of the acquisition were not disclosed.
“New Jersey, and specifically this new acquisition, is well-aligned with our investment strategy, one that seeks the selection of safe, high-yielding commercial properties,” said Ari Nessel, principal of Nessel Development. “Equally important is the state’s commitment to supporting green investments through energy incentives, a core component of the Nessel mission in our approach to real estate and the community as a whole.”
In a news release, Nessel said the campus is home to the only LEED Gold-certified building in southern New Jersey outside of Camden. The mix of single- and multistory buildings feature a set of interconnected walkways and high-end landscaping.
Nessel’s other recent investments in New Jersey include 71,955 square feet at 150 College Road in Princeton, 119,089 square feet at 5 Paragon Drive in Montvale and 183,000 square feet at 9 North Olney Ave. in Cherry Hill. The 21-year-old firm’s portfolio in the state now exceeds 1 million square feet across more than 10 buildings.