Wednesday, June 3, 2015

Investors Trade Marlton Office Assets

Lippincott Real Estate Associates LLC sold the medical office buildings at 402-404 Lippincott Dr. in Marlton, NJ to UR Lippincott DST for $9.5 million, or about $181 per square foot.

The assets are fully occupied by Continuum Health Associates under a long term lease deal.

The single-story, 53,100-square-foot property was constructed in 1997 on 5.7 acres in the South Burlington County submarket of Philadelphia. The buildings are part of the Marlton Crossing Office Park, which enjoys direct access to Rte 73 near I-295 and the Turnpike, and is home to Virtua Health, Morgan Stanley, and Friedman LLP.

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