Colliers facilitates lease, subsequent sale of medical office building in Lindenwold

Colliers International announced Tuesday it has finished a series of transactions at a medical office building in Lindenwold.

The property is located at 406 E. Gibbsboro Road.

Colliers said in the spring, a OBGYN practice in the building will be consolidating and relocating to Voorhees. At the same time, Colliers said it represented the building owner, GLG Properties, in a new 9,468-square-foot lease at the property to Virtua Medical Group.

After that, Colliers said it represented GLG in its sale of the property to an affiliate of Needleman Management for $925,000.

“Evan simultaneously helped us through the site selection process for our new Voorhees location and helped secure Virtua as a tenant upon our departure. By doing so, he guaranteed we would not have to carry a vacant building, which we found truly remarkable,” Dr. Len Gildiner, departing owner, said.

Virtua, which is relocating to the space from across the street, is expected to take occupancy by the summer.