Mount Laurel medical office building fetches $2.75 million

Jun 17, 2019 | Deals, Education, Office

813 East Gate Drive in Mount Laurel — Courtesy: Rose Commercial Real Estate

By Joshua Burd

A local investor has acquired a 22,000-square-foot medical office building in Mount Laurel for $2.75 million, in a transaction arranged by Rose Commercial Real Estate.

The brokerage firm said the buyer, John DiPietropolo, purchased the property from Overbrook Partners LP as part of a 1031 exchange. The building at 813 East Gate Drive is home to three long-term tenants and provides easy access to Interstate 295, the New Jersey Turnpike and routes 73 and 38.

Rose Commercial Real Estate President Adam Rose represented DiPietropolo, a longtime residential investor who was making his first commercial purchase.

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Joshua Burd

Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.