Terms of the lease are undisclosed; however, the listed rentalrate for the building is between $22 per sf and $23 per sf. ShelleyHarris of Wayne-based GVA Smith Mack represented Ken-Crest. JakeFruncillo, in-house leasing director, represented the owner,Cranford, NJ-based Mack-Cali Realty Corp.

Ken-Crest is a nonprofit human services agency devoted toprovidingsupport for people who have, or are at risk of having,mentalretardation or a developmental disability. It serves morethan 6,000people ranging in age from infant to senior from its morethan 30locations throughout the Delaware Valley.

The Ken-Crest renewal is among four major leasing transactionsthat took place at Mack-Cali properties in suburban Philadelphiaduring third quarter. The other three were renewals at propertiesin Moorestown, NJ which took occupancy in the buildings at 1245North Church St. in Moorestown West Corporate Center, 224Strawbridge Dr. in Moorestown Corporate Center and 1256 NorthChurch St. in Moorestown to 100%. The four transactions encompassan aggregate 207,923 sf.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.