Office and lab building in Cherry Hill finds new owner, Vantage says

An office building and laboratory facility in Cherry Hill has been sold, according to real estate firm Vantage Commercial.

Sun Biotech sold the 4,320-square-foot facility at 5 Allison Drive to Hudak Infrastructure Repair Systems LLC, the firm said in a news release. The property will be used as a light manufacturing building with both offices and lab space by Hudak, which provides waterproofing and building repair services.

Cherry Hill-based Vantage said Ken Richardson, executive director, and Corinne Giletto, senior adviser, worked with both the seller and the buyer on the transaction. Financial terms were not disclosed.

“It was a pleasure working with Ken and Corinne,” Perry Frank, chief financial officer at Hudak, said in a prepared statement. “Vantage went out of their way to help us acquire this property. Ken helped us work with the seller to lease some space back to Sun Biotech. The process had challenges, but Vantage helped us navigate through them all to ultimately close the deal.”

Added Bill Chiu of Sun Biotech: “Vantage was able to secure a buyer for our building very efficiently during the pandemic. This was a win-win for both us and the buyer.”