Colliers International has negotiated one of the largest office leases in South Jersey for 2018, it announced Tuesday.
The full-building lease is located at The Colwick Business Center, a 174,658-square-foot, three-building complex in Cherry Hill.
The complex, located at 53-57 Haddonfield Road is owned by Colwick Property LLC, an affiliate of Endurance Real Estate Group and Blue Vista Capital Management.
The new tenant, the State of New Jersey, will occupy the entire 55 Haddonfield building with various agencies. The building is comprised of 61,694 square feet.
Construction has begun at the space, and the tenant is planning to move in by the end of the summer.
“This lease fills a huge block of vacancy in the market and raises the complex’s occupancy rate to 90 percent. The building’s efficient layout and unmatched location are ideally suited for this type of tenant. Colwick is adjacent to the Cherry Hill Mall, which enables all of our tenants to benefit from the rich amenity base in the immediate surrounding area,” Albert J. Corr, senior vice president of endurance, said.
Corr negotiated the lease on behalf of Colwick Property. Endurance was represented by Colliers International’s Brian Sherlock, Evan Zweben and Christina Del Duca.