East Gate Business Center at 125 to 139 Gaither Drive in Mount Laurel — Courtesy: Strategic Funding Alternatives LLC
(Editor’s note: This story has been updated with the names of brokers from NAI Mertz, which represented the seller, and a quote from the firm).
By Joshua Burd
An investment firm has made another addition to its South Jersey portfolio, acquiring a nearly 116,000-square-foot office and flex complex in Mount Laurel.
The buyer, Strategic Funding Alternatives LLC, announced Friday that it has closed on the eight-building East Gate Business Center in Mount Laurel. Spanning 125 to 139 Gaither Drive, the complex measures 115,733 square feet and sits on nine acres.
Terms were not disclosed.
“As we continue to expand our footprint in the South Jersey commercial real estate market, the East Gate Business Center represents further diversification within our property portfolio,” said Jeffery Schneider, SFA’s managing principal, later adding: “the mix of office and flex space allows us to reach a greater audience and meet the demands of local businesses.”
The complex is 90 percent leased. SFA is now planning upgrades to the property’s signage, common area and landscaping.
NAI Mertz President Scott Mertz, Executive Vice President-Managing Director John Adderly, Senior Vice President Rebecca Ting and Vice President Julie Kronfeld represented the seller.
“Our team has served as exclusive leasing agents at East Gate since 1998, and we are pleased to have represented our client in trading this first-class property to SFA, as they continue to expand and diversify their portfolio of assets,” Mertz said. “As experts in the Mount Laurel office and flex real estate landscape, we look forward to remaining the exclusive agents of this corporate center and bringing new and exciting companies to the mix of tenants that call East Gate home.”
