Commercial real estate firm NAI Mertz announced on Friday it recently completed the sale of the East Gate Business Center, a 116,000-square-foot office and flex complex in Mount Laurel.
Scott Mertz, president at NAI Mertz; John Adderly, executive vice president and managing director; Rebecca Ting, senior vice president; and Julie Kronfeld, vice president; represented the previous owner, Eastgate Business Center LLC, in the deal. The buyer, Strategic Funding Alternatives, will add the complex to its existing South Jersey portfolio.
“Our team has served as exclusive leasing agents at East Gate since 1998, and we are pleased to have represented our client in trading this first-class property to SFA, as they continue to expand and diversify their portfolio of assets,” stated Mertz. “As experts in the Mount Laurel office and flex real estate landscape, we look forward to remaining the exclusive agents of this corporate center and bringing new and exciting companies to the mix of tenants that call East Gate home,” he added.
The eight-building business complex is situated on 9 acres and is currently 94% leased to tenants including NJ Default Group LLC, Terminix International Co., The McSweeney Agency and Starlight Homecare Agency. It is located within close access to Interstate 295 and the New Jersey Turnpike.
Financial terms were not disclosed.