Stephen Marzullo, vice president of Grubb & ellis Investment Services Group, Philadelphia, and Anne Klein, vice president of the Grubb & Ellis Office Services Group, also Philadelphia, represented the seller. Purchase price for the 10.4-acre site and building was not disclosed.
"This property will be the cornerstone of an office park that has already seen substantial renovation," according to William Glazer, president/CEO of Keystone Property Group. It's exciting to be taking part in the revitalization of the Cherry Hill West Corridor."
"The timing couldn't be better," according to Klein. "Vacancy rates in the market are the lowest in more than a decade, and tenants are willing to par more per sf for quality office space right now."
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