South Jersey office building now 100% leased: Colliers International facilitates transactions
MARLTON, NJ — Colliers International’s Southern New Jersey office concluded two leases – totaling 6,715 s/f - at Building #3 in the Elmwood Business Park, located at 733 Rte.70 East in Marlton, resulting in 100% leased status. Evan Zweben represented the landlord, PCF Management, LLC.
Both spaces were leased to local companies. The first lease was with NY Cruise Ventures. The second lease was with The Johnston Insurance Group, who has been in the Southern New Jersey marketplace since 1948.
“The office market is still favoring tenants in lease negotiations but PCF Management made a strategic decision to invest substantial capital in their building in order to stay competitive in the market. The results speak for themselves,” said Zweben.
The owner upgraded the common areas both inside and out, painted, and installed new flooring within the suites. “We are so pleased with the outcome, we have already begun planning upgrades to our two remaining buildings in the complex,” said Christina Rossitto, a principal with PCF Management.
Phase II is scheduled to commence later this summer with anticipated completion before the end of 2015. Marketing materials for that project are available upon request.