Bergman Real Estate Group Announces 20,000-SF Lease With GSA at 51 Haddonfield Road in Cherry Hill, N.J.
Bergman Real Estate Group and Time Equities, Inc. (TEI) today announced that the U.S. General Services Administration (GSA) has signed a 20,000-square-foot lease at 51 Haddonfield Road, a 100,000-square-foot office building in Cherry Hill, N.J.
The agreement with GSA comes on the heels of an approximately 21,000-square-foot lease with Benefits Consultants Group, Inc., which recently took occupancy of its new space.
Both transactions are reflective of the renewed interest in 51 Haddonfield Road, which has undergone and benefitted from an extensive capital improvement campaign since being acquired Bergman and Time Equities. The new ownership has completed various upgrades to the property and, as part of TEI’s Art in Buildings program, has implemented a rotating art gallery of work by local and national artists.
“GSA’s decision to come to 51 Haddonfield Road further validates our belief that demand is strong in South Jersey for a Class A office building that is able to offer aggressive rental rates that are competitive with those offered by a large number of lesser quality properties in the market,” said John G. Osborne, Bergman’s executive director of leasing and marketing. “Since completing the repositioning of the building about a year ago, we’ve seen a significant increase in the pace of leasing.”
Added Newmark Grubb Knight Frank Senior Managing Director Anne Klein, who serves as exclusive leasing agent for the property: “Today’s office tenant is constantly looking to upgrade the quality of its space, and 51 Haddonfield Road provides South Jersey-based companies with the opportunity to do just that.”
51 Haddonfield Road is conveniently located just minutes from Center City Philadelphia near the Benjamin Franklin and Betsy Ross bridges and is located adjacent to the Cherry Hill Mall. The property features a glass atrium, café, on-site building manager, fitness center, ample parking and outdoor picnic spot.
The property, which features on-site management and access to an impressive number of amenities, offers office space ranging from approximately 700 to 30,000 square feet, available for immediate lease. Many of the spaces are pre-built and move-in-ready for tenants. Asking rents start at $16.00 per-square foot plus electric.
About Bergman Real Estate Group
Founded in 1988, Bergman Real Estate Group is a privately owned, full-service real estate investment and management company. With more than 25 years of history operating in New Jersey and other select markets, Bergman has earned a solid reputation as a reputable and trustworthy owner/manager. The company’s fully integrated platform includes acquisition, ownership, asset and property management, leasing and construction supervision. Bergman, which has built its success on acquiring and successfully repositioning underperforming, “value-add” properties in prime locations, has acquired 31 assets in excess of $350 million since its inception.
The company’s current portfolio consists of 14 office buildings comprising 1.4 million square feet. For more information, visit www.bergmanrealty.com.
About Time Equities, Inc.
Founded in 1966, privately held Time Equities, Inc. (TEI) has been in the real estate investment, development and asset & property management business for more than 40 years. With properties in 26 states, four Canadian provinces and Germany, the TEI portfolio consists of approximately 23.4 million square feet of residential, industrial, office and retail property.