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MARLTON, NJ-Brandywine Realty Trust has sold its 140,000-sf Greentree Executive Campus and Commons here to Lazgor LLC, a Cherry Hill, NJ-based corporation, for $12.7 million. The sale price factors out to just under $91 per sf.

Joe Sklencar, Sr., senior vice president, and first vice president David P. Dolan of CB Richard Ellis in Philadelphia, were the sole agents in working out the agreement of sale between Brandywine of Plymouth Meeting, PA and Mt. Laurel, NJ, and Lazgor. Further details of the transaction were not released.

The property consists of 12 single-story office structures fronting on Route 73 in this South Jersey community. Developed more than two decades ago, Greentree is considered to be the first office complex in what has evolved as a major commercial corridor along Route 73.

The current tenant mix includes a variety of space users ranging from professional firms and medical practitioners, to regional offices for major corporations, to start-up operations. Terms and conditions of existing lease agreement will not be affected by the investment sale, according to Sklencar.

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