X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MARLTON, NJ-Claret Capital, a Dublin, Ireland-based group with a regional office in Philadelphia, has acquired a portfolio of five, single-story flex buildings totaling 160,000 sf from the Malvern, PA-based Liberty Property Group. The buildings are located at 8, 9, 10, 12 and 14 E. Stow Rd. and range in size from the 55,000-sf 9 E. Stow building to the 19,000-sf 14 E. Stow building. All five were completed in 1988, and the property consists of approximately 20 acres.The deal was handled for both sides by Joseph Sklencar Sr., SVP of the private capital investment group of the local office of Grubb & Ellis, and Joseph Sklencar Jr., senior associate in the same firm’s office group. The sale price was not released, but industry sources put the number around $15-million. Besides handling the sale, Grubb & Ellis has picked up the leasing and management assignment from Claret.

“This transaction was a value-added opportunity for the buyer,” says Sklencar Sr., in a statement. “Particularly in today’s market, it’s important that we’re seeing international investment in Marlton.”

Overall, the five buildings were listed as being approximately 60% leased at the time of closing, with a tenant roster populated mostly by service-related tenants, including insurance agencies, accounting firms, financial services firms and local and regional sales offices. Among those tenants are Premier Prizm Solutions, Partners in Home Care, the law firm of Powers Kim, American Partners Bank, Mitel Communications, Xtel Communications and Blackman & Co.

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?

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.