8B — November 8 - 21, 2019 —Southern New Jersey — M id A tlantic
Real Estate Journal
www.marej.com
C entral NJ
OUNT LAUREL, NJ — Strategic Fund- ing Alternatives, A 56,000 s/f class B office building in Mount Laurel, New Jersey Strategic Funding Alternatives completes reno. to recently acquired 5000 Dearborn Circle M
its presence and visual im- pact. With a combination of enhanced architectural lines, a palette of modern materi- als and natural aesthetic, the modernized exterior makes a pronounced visual statement and reestablishes the prop- erty as a highly desirable office building. In addition to the exterior improvements, SFA is also upgrading the parking lot, landscaping, interior lobby and restrooms. “We knew that 5000 Dear- born was a true fit and great addition to our core holdings in Moorestown and Mount
Laurel,” says SFA managing principal, Jeffery Schneider . “With the new façade and other value-add capital investments, the site is truly transformed and prospective tenants have taken notice.” Founded in 2016, SFA has become one of the fastest grow- ing firms in the South Jersey market with nearly 20 proper- ties and 1,000,000+ s/f. The company’s investment division raises and places equity in undervalued commercial office complexes, optimizing perfor- mance through acquisitions with value-add capital improve- ment opportunities and provid- ing investors with discretion over individual assets, regular quarterly income and long-term capital appreciation. Burlington stores coming to Somerville Circle SC, Raritan RARITAN, NJ — Levin Management Corporation (LMC) , managing agent for Somerville Circle Shopping Center in Raritan, announced that national off-price retailer Burlington Stores plans to open a new, 46,000 s/f location in Spring 2020. LMC senior leasing repre- sentative Vanessa Fernan- dez-Kelty arranged the lease; Clifford Simon and David Rosen of CNS Real Estate represented the tenant. “Off price retailers are thriv- ing in the current marketplace, and Burlington – which is ag- gressively expanding its foot- print – is no exception,” said Fernandez-Kelty. Burlington will occupy a free- standing box. Somerville Circle Shopping Center is anchored by Staples, Petco and P. C. Richard & Son. Other national and regional tenants include Carter’s, Jersey Mike’s, Panera Bread, Burger King, Five Be- low and Harmon Discount. “Burlington is a terrific an- chor addition for this prop- erty, which is an established ‘one-stop’ shopping destina- tion for regional consumers,” Fernandez-Kelty noted. “This is a great example of our ef- forts not just to fill space, but to fill space with the right ten- ant – one that complements its co-tenancy and adds to a property’s dynamic.” With the long-term Burling- ton commitment, Somerville Circle Shopping Center is near full occupancy.
LLC (SFA) , a privately held commercial real estate in- vestment firm, is pleased to announce the completion of exterior renovations to 5000 Dearborn Circle in Mount Lau- rel. SFA purchased the 56,000 s/f class B, 1-story office build- ing in June 2019 and over the course of three months, its team worked hand-in-hand with PDK Architects to transform the exterior façade. Both par- ties agreed the dark monolithic granite cladding diminished
5000 Dearborn Circle
New York Deal Making Shopping Centers Spotlight
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