A four-story, 87,460-square-foot Class A office building in Mount Laurel has been sold, according to Newmark, which arranged the transaction.
Four Springs Capital Trust sold 250 Century Parkway to 250 Century Parkway LLC and Needleman Management Co. for an undisclosed price, Newmark said in a news release.
Newmark Senior Managing Director David Dolan and associate Angelo Brutico handled the transaction on behalf of the seller, with support from financial analyst John Cook. Needleman represented itself.
“The property is in an exceptional location, just minutes from the Moorestown Mall, and features some of the region’s most desirable retail amenities,” Dolan said in a prepared statement. “We are pleased to have achieved this favorable outcome, and congratulate everyone involved.”
Marcia Minton, vice president of asset management for Four Springs Capital Trust, added: “This sale marks a significant milestone for Four Springs Capital Trust, as it reflects our strategic intent to optimize our portfolio and capitalize on the demand for high-quality office spaces. The successful closure of this deal underscores our commitment to maintaining robust asset quality and generating substantial value for our stakeholders.”
