X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

EVESHAM TWP., NJ-Opus East, a unit of the Minnesota-based Opus Corp., has opened the doors on its 4 Lake Center Executive Park, a four-story, 87,500-sf class A office building here. The project represents the first multi-tenant spec office building to be built in this Burlington County community in South Jersey since the late 1980s.

Opus East bought the 20-acre building site, the last remaining piece of land within the Lake Center Executive Park, in early 2003 and started building the two-building project last fall, according to Pete Corcoran, director of real estate development for Opus East. The new building represents the first of two similarly sized structures that will rise on the site.

The new building cost in the neighborhood of $15 million to complete, according to Corcoran. That number factors out to a little over $171 per sf.

Opus East has also signed CB Richard Ellis to lease 4 Lake Center Executive Park, with senior vice president Joseph M. Sklencar Jr. and first vice president David P. Dolan of the firm’s Philadelphia office handling the project. The space is being marketed at a net base rental of $19 per sf, plus electric and operating costs. Opus established its Opus East office in Plymouth Meeting, PA in 1998 to develop office and industrial facilities in the South Jersey/Pennsylvania/Delaware region.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.