A rendering of an upgraded 5000 Dearborn Circle in Mount Laurel — Courtesy: Strategic Funding Alternatives LLC/PDK Architects
By Joshua Burd
A real estate investment firm has acquired a 56,016-square-foot office building in Mount Laurel, with plans to complete a series of upgrades in its bid to attract new tenants.
The company, Strategic Funding Alternatives LLC, announced recently that it acquired 5000 Dearborn Circle after closing on the property in mid-June. The value-add firm purchased the one-story, multitenant building from Greenfield Properties for an undisclosed price.
“We’ve had our eye on this Dearborn property for some time now,” said Jeffery Schneider, managing principal with SFA. “Dearborn fits SFA’s value-add focus of a prominent office property in an excellent location on Route 38. It’s a great addition to our core holdings in Moorestown and Mount Laurel.”
SFA is planning upgrades including a new building façade, greater signage, updated restrooms and renovated common areas, according to a news release. The improvements will seek to capitalize on the property’s easy access to Route 73, Interstate 295 and the New Jersey Turnpike.
