Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.