Friday, March 6, 2020

Institutional Investor Sells Government Office Portfolio Near Philadelphia

An institutional investor has sold a value-add office portfolio totaling 166,969 square feet in Philadelphia’s Cherry Hill, New Jersey, suburb to a private investor.

The buildings at 5 and 6 Executive Campus are located off State Route 70, approximately 5 miles from downtown Philadelphia. The buildings are leased to a roster of all credit-rated government agencies.

The two-story office building at 5 Executive was built in 1970 and totals 66,703 square feet, and the four-story facility at 6 Executive, which opened its doors in 1982, totals 100,276 square feet. The buildings are within walking distance to the Cherry Hill Transit station.

“We were very pleased to work with the seller on the disposition of these properties. They were able to take advantage of the market’s strong demand for office properties that offer stable cash flow and leasing upside.”

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