Southern New Jersey Commercial Real Estate Transaction and Opportunity Round-Up
WCRE Announces New Lease Deals and Property Availabilities
May 1, 2014 – Marlton, NJ – Wolf Commercial Real Estate (WCRE) recently consummated two lease transactions of note, and is announcing the availability of two significant new exclusive listings for tenants and investors. The new leases have brought Laboratory Corporation of America, known as LabCorp (NYSE:LH) to a premier office building in Marlton, NJ and Universal Hospital Systems (UHS) to a large warehouse space in Mount Laurel, NJ. WCRE has also been appointed exclusive leasing agent for the Heritage Square Shopping Center and Heritage Office Complex on Route 70 in Cherry Hill, NJ and exclusive sale agent for the Glendale Executive Campus in Voorhees, NJ, bringing multiple new opportunities to the market.
The South Jersey team exclusively represented a subsidiary of The Rothman Institute, RI Greentree Associates, LLC in the leasing of 2,200 sf of medical office space to Labcorp. This Class “A” medical office space located at 999 Route 73 in Marlton is a landmark property and location that is also home to Rothman Institute and Rothman Orthopaedic Urgent Care.
The Rothman Institute ownership entity acquired this trophy building from Brandywine Realty Trust in 2011, and recently completed major renovations to the interior and exterior. With the completion of this lease, this multi-tenanted property is now 95% leased, with only two vacant suites remaining for lease. One is 1,184 sf, and the other is 2,352 sf, and both are available for immediate occupancy. Jason Wolf and Leor Hemo of WCRE teamed up to represent both Landlord and Tenant on this transaction.
In another major tenant representation assignment, WCRE represented Universal Hospital Systems (UHS) in the leasing of 18,000 sf of premier warehouse space located at 8000 Commerce Parkway in Mount Laurel. This location provides easy access to Route 73, and is within close proximity to I-295 and the New Jersey Turnpike. The new tenant is a national leader in providing medical equipment management and service solutions to the healthcare industry. Leor Hemo and Todd Levin of WCRE teamed up with Fisher & Company to successfully complete this transaction. This property is now 100% leased.
WCRE is proud to have earned new exclusive leasing assignments of the Heritage Office Complex and Heritage Square Shopping Center, an office and shopping center situated in a park-like setting on Route 70 in Cherry Hill. This complex was acquired by Heritage Office, LLC in 2013. The new ownership recently completed extensive renovations and upgrades to modernize the property. Prospective office and retail tenants will enjoy the diversity of existing retail tenants, the availability of monument and pylon signage on Route 70, and close proximity to I-295, The New Jersey Turnpike, and Route 73. Leor Hemo, Chris Henderson, and Todd Levin are the WCRE exclusive leasing team on this project.
Finally, WCRE has been exclusively retained by SJS Realty Management to sell the Glendale Executive Campus located in the rapidly redeveloping heart of Voorhees. This investment opportunity comprises 52,466 sf in nine garden-style buildings spread over 5.61 acres. The campus is 74% leased, with 24 current tenants. It is conveniently located in a retail corridor experiencing an expansion, with abundant retail, restaurants, banks, professional offices and other amenities nearby. It features easy access to I-295 and the New Jersey Turnpike. Over the past year the surrounding area of this premier Voorhees project has benefited from significant redevelopment, including the Voorhees Towne Center, new retail pad sites along White Horse Road, and a soon-to-open First Republic Bank branch across the street from the subject property. Jason Wolf and Leor Hemo are the WCRE exclusive team on this project.
WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.
Learn more about WCRE online at www.wolfcre.com,on Twitter @WCRE1, and on Facebook at Wolf
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