{"id":1004214723,"date":"2018-03-28T09:57:47","date_gmt":"2018-03-28T17:57:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004214723"},"modified":"2022-12-08T20:00:02","modified_gmt":"2022-12-09T04:00:02","slug":"somerset-properties-sells-office-portfolio-in-nj","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/","title":{"rendered":"Somerset Properties Sells Office Portfolio in NJ"},"content":{"rendered":"<p>By Tudor Scolca<\/p>\n<div id=\"attachment_1004214726\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004214726\" data-attachment-id=\"1004214726\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/marlton-executive-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Marlton Executive Park\" data-image-description=\"&lt;p&gt;Marlton Executive Park, at 701A State Route 73&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Marlton Executive Park, at 701A State Route 73&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg?w=640\" class=\"wp-image-1004214726 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg\" alt=\"Marlton Executive Park, at 701A State Route 73\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004214726\" class=\"wp-caption-text\">Marlton Executive Park, at 701A State Route 73<\/p><\/div>\n<p>Somerset Properties has sold a four-building office portfolio located in Mount Laurel and Marlton, N.J. Mobius acquired the properties for a combined $31.4 million and received a 10-year fixed-rate acquisition loan from Wells Fargo Bank, in the amount of $24.3 million.\u00a0The portfolio totals 304,732 square feet and is 94 percent occupied.<\/p>\n<p>An HFF team represented Somerset in the transaction and arranged the funding on behalf of Mobius.<\/p>\n<p>The Marlton, N.J., buildings consist of the Marlton Executive Park I and II, located at 701A and 701C State Route 73. The offices are in close vicinity to Interstate 295 and about half an hour\u2019s drive from downtown Philadelphia. Marlton Executive Park was constructed in 1988 and totals 121,568 square feet. The tenant mix includes the GSA, Libery Mutual and Nation One Mortgage, among others.<\/p>\n<p>Horizon Corporate Center is located at 3000 Atrium Way and 2000 Crawford Place, in Mount Laurel, N.J. The campus, which comprises two buildings completed in 1987, encompasses 183,164 square feet of space. This property also has immediate access to major thoroughfares, such as the New Jersey Turnpike, Route 70 and Interstate 295. Tenants at Horizon Corporate Center include Siemens, Virtua and Nathael International.<\/p>\n<p>Recently, Somerset Properties teamed up with Alex Brown Realty Inc. to sell an <a href=\"https:\/\/www.commercialsearch.com\/news\/hff-facilitates-the-sale-of-126-ksf-raleigh-business-center\/\">industrial asset in Raleigh, N.C.<\/a>\u00a0The $17.8 million transaction was brokered by another HFF team.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 304,732-square-foot portfolio was 94 percent occupied at the time of sale. The office buildings are all located within minutes of major thoroughfares.<\/p>\n","protected":false},"author":1284,"featured_media":1004214726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,10,21747,1494],"tags":[32792,36213,33215],"class_list":["post-1004214723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-northeast","category-office","category-philadelphia","tag-hff","tag-somerset-properties","tag-wells-fargo-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Somerset Properties Sells Office Portfolio in NJ - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Somerset Properties Sells Office Portfolio in NJ\" \/>\n<meta property=\"og:description\" content=\"The 304,732-square-foot portfolio was 94 percent occupied at the time of sale. The office buildings are all located within minutes of major thoroughfares.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-28T17:57:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:00:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/\",\"name\":\"Somerset Properties Sells Office Portfolio in NJ - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg\",\"datePublished\":\"2018-03-28T17:57:47+00:00\",\"dateModified\":\"2022-12-09T04:00:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Marlton-Executive-Park.jpg\",\"width\":640,\"height\":512,\"caption\":\"Marlton Executive Park, at 701A State Route 73\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Somerset Properties Sells Office Portfolio in NJ\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\",\"name\":\"Tudor Scolca\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96\",\"caption\":\"Tudor Scolca\"},\"description\":\"Tudor Scolca-Seu\u0219an is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/tudor-scolca\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Somerset Properties Sells Office Portfolio in NJ - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/somerset-properties-sells-office-portfolio-in-nj\/","og_locale":"en_US","og_type":"article","og_title":"Somerset Properties Sells Office Portfolio in NJ","og_description":"The 304,732-square-foot portfolio was 94 percent occupied at the time of sale. 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