Whitesell Construction has listed two Mount Laurel office buildings for sale as the developer continues reshaping its local portfolio.
The properties at 1000 and 3000 Midlantic Drive total approximately 64,600 square feet. Together, the buildings are 93% occupied.
Whitesell developed both properties in 1985 as part of Laurel Corporate Center. The 11-building business park spans approximately 140 acres.
The building at 1000 Midlantic Drive contains 32,700 square feet. Meanwhile, 3000 Midlantic Drive offers another 31,900 square feet.
LaborFirst maintains its headquarters at 1000 Midlantic Drive. Whitesell also occupies space within the neighboring 3000 Midlantic Drive property.
The latest listings follow two other sales within the corporate center. In December, Whitesell sold 6000 and 8000 Midlantic Drive for $12.5 million.
Those properties totaled approximately 340,260 square feet and were 55% occupied when marketed. The transaction equated to roughly $37 per square foot.
In contrast, the newly listed buildings enter the market with significantly higher occupancy. That distinction could strengthen their appeal to investors seeking stabilized suburban office properties.
Additionally, the properties offer convenient access to Route 38 and Interstate 295. Their location also places them across from the Centerton Square shopping center.
Major retailers nearby include Wegmans, Target, and T.J. Maxx. A Wawa also operates just west of the office complex.
Despite broader challenges within the office sector, well-occupied suburban properties continue attracting investor attention. The listings will provide another test of demand within South Jersey’s office investment market.
*Article courtesy of Philadelphia Business Journal
For more information about Mount Laurel office space for sale or lease, please contact WCRE at 856-857-6300.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of Mount Laurel commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.
Please visit our website for a full listing of Mount Laurel commercial properties for lease or sale, www.wolfcre.com.