SFA acquires Class B office building in Mount Laurel

Strategic Funding Alternatives LLC, a commercial real estate firm, announced Monday it has acquired a Class B office building in Mount Laurel from Greenfield Properties.

The 56,016-square-foot property, located at 5000 Dearborn Circle, a one-story, multitenant building.

The firm said it is planning several capital improvements at the property, including a new building facade, better signage, updated restrooms and renovated common areas.

The building is located within close access to Route 73, Interstate 295 and the New Jersey Turnpike.

“We’ve had our eye on this Dearborn property for some time now,” Jeffery Schneider, managing principal, SFA. “Dearborn fits SFA’s value-add focus of a prominent office property in an excellent location on Route 38. It’s a great addition to our core holdings in Moorestown and Mount Laurel.”

Greenfield Properties was represented by Somerset Properties. The deal closed on June 13. Financial terms were not disclosed.