Opus East, which has a regional office in Plymouth Meeting, PA, was represented in the deal by the company's director of development, Bill Walters, and Joseph M. Sklencar Sr. and David P. Dolan of Grubb & Ellis. Ann Klein and Jeff Tertel of the Marlton office of Grubb & Ellis represented Virtua Health. The aggregate rental and other terms of the signing were not released.
Currently headquartered in Marlton, Virtua Health is a nonprofit operator of four hospitals: Virtua Memorial Burlington County and Virtua West Jersey in Berlin, Marlton and Voorhees. The company, which has 7,100 staffers and a physician roster of 1,800, also operates a network of outpatient, home healthcare, fitness, rehab and nursing facilities in South Jersey. Virtua Health, which is actually expected to move into the building in January, according to Walters, will use the site as its new, expanded headquarters.
Construction on Lake Center V began on a spec basis in the fall of 2005, according to C. Craig Guers, SVP and general manager of Opus East, a regional arm of the Minnetonka, MN-based Opus Corp. "The full lease of the building confirms the unabated demand for class A office space in this submarket," Guers says.
Lake Center V is the second of two buildings to be developed by Opus East within Lake Center Executive Park. Its twin Lake Center IV building is populated by major tenants IndyMac Bank, the law firm of Stark & Stark and a regional office of Grubb & Ellis.
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