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Real Estate Journal — Southern New Jersey — April 14 - 27, 2017 — 7B
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M id A tlantic
For medical office building in Cherry Hill CBRE Capital Markets Debt & Structured Finance Team secures $41m Life Company Loan C
herry Hill, NJ — CBRE ’ s Cap i - tal Markets Debt & Structured Finance team has arranged a $41 million life company loan for a 155,000 s/f office building located at 1865 Marlton Pike East in Cherry Hill. The property, which is leased on a long- term basis to University of Pennsylvania Health Sys- tem, is a state-of-the-art multi-disciplinary facility that serves as a primary care center and clinical offices for numerous medical practices, including cardiology and radiology. CBRE’s NickHar- ris, Steve Roth and Steven Doherty procured financing for the buyer. “The opportunity to finance UPenn Cherry Hill was pur- sued by a wide array of life companies,” said Harris. “They were attracted to the Riverside, NJ — Bussel Realty Corp. (BRC) , one of the leading industrial real es- tate services firms in New Jer sey an- nounced Key- mar Ware - hous e Inc . has l eased 9 2 , 0 0 0 s / f at 301 West Washington St., in Riverside, a 250,000 s/f industrial property. Leo Esses , senior vice presi- dent, and David Posner , senior vice president, of BRC, represented the landlord, Remy Investments LLC, in the transaction. Colliers Inter- national represented Keymar Warehouse. “With quality industrial space scarce in northern and central New Jersey industrial markets, users are looking for alterna- tives further south off the New Jersey Turnpike for their grow- ing businesses,” noted Esses. “Keymar Warehouse found this location ideal for servicing its Leo Esses
1865 Marlton Pike East
the transaction in January of this year. The building traded hands for nearly $82 million. n
credit tenancy, lease term, state-of-the-art medical of- fice redevelopment of the property, and the borrower’s
long-term track record as a market leader in the medical office building space.” Robert Fahey, Jerry
Kranzel and Jeffrey Shell of CBRE Capital Markets’ Institutional Properties team represented the seller during
Esses of Bussel Realty leases 92,000 s/f at 301 West Washington Street, Riverside, New Jersey
301 West Washington St.
clientele in the surrounding New Jersey, New York and Pennsylvania markets.” 301 West Washington Street is located near Exit 5 of the New Jersey Turnpike and I-295. The property features 18-foot
to 24-foot ceiling heights, 15 tailboards and two drive-in doors for loading, heavy elec- tric power, wet sprinklers and significant excess paved land for car and trailer parking. Currently, the property has
100,000 square feet of space available in the remainder of the building, and an additional 100,000 square feet of new space can be constructed on the site. Keymar Warehouse Inc.
is a privately held company in Delran, and specializes in warehouse and storage. Currently, BRC is handling in excess of three million s/f of corporate and industrial real estate in New Jersey. n
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