The seller was the Dallas-based Invesco. The deal was brokeredon behalf of the seller by SVP Michael Blunt and EVPs Michael Hinesand Robert Fahey of the Philadelphia Region's CB Richard EllisInvestment Property-Institutional Group.

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The asset is one of four buildings that make up the ColwickBusiness Center, and the latest sale gives the Iselin, NJ-basedBergman complete control of the campus. As reported by GlobeSt.com, thecompany acquired the other three buildings in 2006 from NewYork-based Praedium Group and Bala Cynwyd, PA-based Endurance RealEstate.

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The three buildings sold earlier total 171,000 sf, and the saleprice of $22.4 million worked out to $131 per sf. The CBRE brokertrio orchestrated that earlier sale as well. Praedium and Enduranceonly had an 18-month hold on the building, having acquired them inlate 2004 for $15.2 million.

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As far as 51 Haddonfield Rd., "the building is 80% leased, andprovides excellent leveraged return opportunities and stellar rentroll because of its diverse and quality tenancy," says a spokesmanfor the buyer. Recent capital improvements have been made to thebuilding as well, including new roofs, HVAC upgrades and parkingarea resurfacing.

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"Bergman and Maguire have essentially acquired a qualitymid-rise office building which recently underwent substantialimprovement," Blunt confirms. "It has achievable upside potentialand a location in one of Cherry Hill's best corridors. It alsoallows Bergman to control Colwick Business Center in its entirety,which is an absolute competitive advantage."

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Part of that upside potential is the 19,000 sf still availablefor lease, space that's currently listed with an asking price of$20.50 per sf. Existing tenants include Nations Home MortgageComcast, Commonwealth Land Title, Manpower International and StifelNicolaus & Co.

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