The Bloom Org. Sells New Jersey Office/Flex Complex
- Nov 12, 2019
The Bloom Org. has sold Fellowship Business Center, a five-building office/flex campus in Mount Laurel, N.J. Yardi Matrix identified the buyer as DIY Media Group, which paid $10.7 million for the property.
According to Yardi Matrix, Fellowship Business Center was completed in 1984 and comprises 96,000 square feet. The property features 384 parking spaces and was 96 percent occupied at the time of sale.
The complex is located on 8 acres at 520 Fellowship Road, within the East Gate Business Park. It sits within walking distance of the intersection to Exit 4 of the New Jersey Turnpike, interstates 295 and routes 73 and 38. Routes 70, 130, as well as interstates 90 and 676 are minutes away, while Philadelphia is within a 20-minute drive.
Colliers International’s Ian Richman and Marc Isdaner arranged the transaction. The company will also provide property management and leasing services for the complex. Last month, Colliers arranged the sale of a 230,000-square-foot office campus in Florham Park, N.J.