X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HADDON HEIGHTS, NJ-Grove Office Plaza, a 45,000-square-foot professional office building at 515 Grove St. here, has a new owner. The building has been sold by SJS Grove Street Limited Partnership–a group headed by the Cherry Hill-based SJS Realty Management–to locally based 515 Grove Street Associates LLC. The sale price of $3.8 million factors out to just more than $84 per square foot, and the deal was brokered by SVP Jason Wolf and VP Evan Zweben of the Mount Laurel office of Colliers Lanard & Axilbund.

Built in 1972 and last renovated in the mid-1980′s, the three-story class B building was just more than 90% occupied at the time of sale. The vacancy of approximately 4,500 square feet is available in increments of 1,000 square feet and up, currently listed with an asking price of $15.50 per square foot, and CL&A has been retained to market that space.

Existing tenants include Pennoni Associates, Associated Insurance Partners, Quest Diagnostics, Cooper Family Medicine and Congressman Robert Andrews. Grove Office Plaza is situated directly off Exit 29 of I-295 in this South Jersey community, and has north/south access to that route.

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?

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