NAI Mertz and Modani Properties said Sept. 5 that they have closed a lease for 11,262 square feet of Class A office space at 501 Fellowship Road in Mount Laurel.
The NAI Mertz team of Scott Mertz, SIOR, president and John Adderly, executive vice president is the exclusive leasing agent for the property owned by Modani Properties. The tenant is Plymouth Rock Assurance, a home and auto insurance company. Jones Lang LaSalle also assisted Modani Properties in completing this transaction.
The three-story Class A office building features a two-story glass atrium entrance, and the second-floor balcony overlooks the lobby. It offers two passenger elevators and parking for more than 250 cars.
Modani is a national developer, as well as owner of Class A office, industrial and retail properties. It is primarily focused on new developments across various sectors, including office, industrial, retail, multi-family, townhomes, and single-family homes. Modani has established itself as a leading developer with numerous large-scale projects.
“This is an ideal location for Plymouth Rock as it provides them with a high-quality office space for its employees and a convenient location for its customers,” said Adderly. “They join a distinguished list of corporate tenants at the property including Cooper Health System, UBS Financial Services and Northwestern Financial.”
“We also are pleased to announce that with this lease, 501 Fellowship Road is now 90% leased, with only one suite available,” added Mertz.
Located in a highly sought after location in Mount Laurel, 501 Fellowship Road is near Interstate 295, the NJ Turnpike and Route 73 offering access to central and southern New Jersey and Philadelphia and is close to the Moorestown Mall.
