GSA Signs Lease Deal in Cherry Hill

CHERRY HILL, NJ—The US General Services Administration has signed a 20,000-square-foot lease at 51 Haddonfield Road here.

The deal was announced by the building ownership of Bergman Real Estate Group and Time Equities, Inc. The transaction comes on the heels of an approximately 21,000-square-foot lease with Benefits Consultants Group, Inc., which recently took occupancy of its new space at the 100,000-square-foot office building.

Since taking ownership of the property recently, Bergman and Time Equities have undertaken an extensive capital improvement program and as part of TEI's Art in Buildings program has implemented a rotating art gallery of work by local and national artists.

“GSA's decision to come to 51 Haddonfield Road further validates our belief that demand is strong in South Jersey for a Class A office building that is able to offer aggressive rental rates that are competitive with those offered by a large number of lesser quality properties in the market,” says John G. Osborne, Bergman's executive director of leasing and marketing. “Since completing the repositioning of the building about a year ago, we've seen a significant increase in the pace of leasing.”

Newmark Grubb Knight Frank Senior Managing Director Anne Klein, who serves as exclusive leasing agent for the property, adds, “Today's office tenant is constantly looking to upgrade the quality of its space, and 51 Haddonfield Road provides South Jersey-based companies with the opportunity to do just that.”