The Fellowship Business Center in Mount Laurel — Courtesy: Colliers International
By Joshua Burd
A private investor has acquired a five-building, 96,000-square-foot office and flex park in Mount Laurel for nearly $11 million, brokers with Colliers International announced Monday.
In a news release, Colliers said it represented The Bloom Organization in its sale of the Fellowship Business Center. The complex, which is 96 percent occupied, is part of the East Gate Business Park and is bounded by the New Jersey Turnpike, Interstate 295 and Route 73.
Colliers’ Ian Richman and Marc Isdaner of the firm’s Mount Laurel office completed the $10.675 million deal. The brokerage team will retain leasing and management of the park on behalf of the new ownership.
“This is a well-maintained complex that greatly benefits from its location relative to I-295 and the (New Jersey) Turnpike,” Richman said. “It suits image-conscious tenants and/or tenants that are in the service business and need to quickly access the area’s state highways.
“We are excited not only to complete this sale but to assist with leasing and property management on behalf of the new ownership group.”