In a sale-leaseback deal, the two-story, 52,648-sf 111 Woodcrest has been acquired by Behringer Harvard Woodcrest IV LLC of Addison, TX for just less than $6.3 million, or approximately $119 per sf. The seller was the Udren Family LP, an affiliated entity of the building's occupant, the Law Offices of Mark Udren. Terms of the lease were not disclosed. For the Philadelphia-based Colliers L&A, Jason Wolf and Evan Zweben orchestrated the deal.
The building is within the Woodcrest Corporate Center, and with its acquisition, Behringer Harvard now owns all of the 333,000-sf campus. Other tenants include EDS, Popular Mortgage and American Water, and Colliers L&A has been retained by Behringer Harvard to market available spaces that range from 13,000 to 26,000 sf.
In the second sale, brokered by Wolf, Zweben and Colliers L&A colleague Marc Isdaner, Femast Management has acquired the 40,000-sf building at 1000 Crawford Place within the Horizon Corporate Center in Mount Laurel. The seller was a local investment group, and the sale price of $6.5 million translates to $163 per sf. Femast, a commercial real estate firm, will occupy the top two floors of the four-story asset, and Colliers L&A has been retained to lease vacancies that range from 850 to 3,500 sf.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.