Wednesday, July 17, 2013

Colwick Business Center Sells for $6.9M

C-III Realty Services, a special servicer for the asset, sold the three-building office portfolio at 53-57 Haddonfield Rd. in Cherry Hill, NJ to Endurance Real Estate Group LLC for $6.9 million, or about $40 per square foot. 

The Colwick Business Center is made up of three single-story buildings. 53 Haddonfield Rd. is a 73,772-square-foot office building, 55 Haddonfield Rd. is a 61,225-square-foot building, and 57 Haddonfield Rd. is a 36,218-square-foot office building. The portfolio totals in 171,215 square feet sitting on more than 16 acres. The multi-tenant buildings were at 53.7-percent occupancy at the time of sale.

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