9-13-13

20B — September 13 - 26, 2013 — New Jersey — Mid Atlantic Real Estate Journal

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Six properties sold at Cooper Ctr. & Cooper Ctr. West Colliers Int’l. concludes off./ flex sale totaling 139,000+ s/f

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ennsauken, NJ — Colliers Interna- tional’s South Jersey

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Industrial team of Marc Isdaner and Ian Richman recently concluded the sale of six multi-tenant office/flex properties known as Cooper Center and Cooper Center West in Pennsauken on be- half of The Bloom Organi- zation. A sale price was not disclosed. The properties, totaling 139,712 square feet, were 93.6% leased at the time of closing. The buildings were constructed in the mid-70’s

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Cooper Center and Cooper Center West in Pennsauken

by The Trammell Crow Com- pany. “With nearly 40 tenants in the portfolio and an exten- sive property management requirement, it was critical to find a buyer with a local presence who could maintain a hands-on approach,” said Ian Richman, Vice President, Colliers International. The buyer, Cooper Park Associates, LP, is a local real estate investor who saw this as an attractive addition to their real estate portfolio, given the stable cash flow and diversified tenant roster including national, regional and local tenants. The seller, The BloomOrga- nization, is a leading industri- al and office real estate man- agement firm headquartered in Southern New Jersey. As a third generation company, it has grown to be one of the region’s largest privately owned property owners. Isdaner also completed a 29,822 s/f lease at 70 Sewell Street (aka Route 55 Indus- trial Center) in Glassboro. Isdaner represented the tenant, Mochila Fulfillment LLC, a warehouse and lo- gistics company. Their space features a 21’ ceiling height and six tailgate loading doors. Route 55 Industrial Center’s location, which offers easy access to I-295 and the New Jersey Turnpike, was Mochila’s pri- mary reason for selecting this space, allowing them to better serve their clients. The Route 55 Industrial Center is a 330,000-square- foot multi-tenant industrial building, previously known as theAnchor Hocking Packaging Facility. The fully-fenced prop- erty features 18’-20’ ceiling heights and tailgate, dock-high and van-height loading. n

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