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Newmark arranges sale of 87,460 s/f premier office building in Mount Laurel, NJ

Writer's picture: MAREJMAREJ

Mount Laurel, NJ — Newmark has arranged the sale of 250 Century Parkway, a four-story, 87,460 s/f class A office building in Mount Laurel. Four Springs Capital Trust sold the asset to 250 Century Parkway, LLC and the Needleman Management Company.

Newmark senior managing director David Dolan and associate Angelo Brutico facilitated the transaction on behalf of the seller, with support from Newmark financial analyst John Cook.

“The property is in an exceptional location, just minutes from the Moorestown Mall, and features some of the region’s most desirable retail amenities,” said Dolan. “We are pleased to have achieved this favorable outcome and congratulate everyone involved.”

250 Century Parkway is a Trophy, single-tenant, net-leased office building in amenity-rich Mount Laurel, one of southern New Jersey’s most sought after and accessible submarkets. The building features high-end finishes, including a cafeteria, conference center and fitness center. Set on 7.24 acres, only 13 miles to Philadelphia and 90 minutes to Manhattan, the property has maximum visibility from the NJ Turnpike and direct access to Exit 4.

"This sale marks a significant milestone for Four Springs Capital Trust as it reflects our strategic intent to optimize our portfolio and capitalize on the demand for high-quality office spaces. The successful closure of this deal underscores our commitment to maintaining robust asset quality and generating substantial value for our stakeholders," said Marcia Minton, vice president of asset management at Four Springs Capital Trust.

Needleman Management represented itself on the sale transaction.

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