Moorestown Corporate Center on Strawbridge Drive in Moorestown, New Jersey traded hands this month as Mack-Cali Realty sold the complex to a fund sponsored by Keystone Property Group for approximately $19.9 million. "The sale of these buildings continues our plan of recycling our capital out of non-core assets," said Mack-Cali chief executive Mitchell Hersh.
Moorestown Corporate Center includes three buildings at:
224 Strawbridge Drive (74,000 square feet)
228 Strawbridge Drive (74,565 square feet)
232 Strawbridge Drive (74,258 square feet)
According to a NASDAQ report, the property was 61.4% leased at the time of sale. Mack-Cali was represented by Jones Lang LaSalle in the transaction, with Shaw Environmental, an engineering firm, occupying all 74,565 square feet of space in the building at 228 Strawbridge.
For more news and information visit Blumberg Capital Partners.
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