Colliers to Retain Leasing and Management at Park
November 4, 2019 [Mount Laurel, NJ] – Ian Richman and Marc Isdaner of Colliers International’s Mount Laurel office are pleased to announce the sale of the Fellowship Business Center - a 96,000 sf five-building complex within the East Gate Business Park - for the sum of $10,675,000.
The sale was facilitated on behalf of The Bloom Organization to a private investor. The multi-tenanted portfolio of office/flex properties benefits from an exceptional location with immediate access to the NJ Turnpike, I-295, Route 73 and Route 38. The site also has a history of long-term occupancy by a healthy range of local and national tenants – it was 96% occupied at time of sale.
Colliers 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 NJ Turnpike. 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.” cited Ian Richman of the project team.
For further information, contact:
Ian Richman, Senior Managing Director +1 856 414 1257 | Ian.Richman@colliers.com
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.