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6 Executive Campus
Cherry Hill, NJ 08002
Office Property For Sale
PROPERTY FACTS
- Office
- Office Building
Amenities
- Bus Line
- Signage
About 6 Executive Campus , Cherry Hill, NJ 08002
Property tours are available by appointment ONLY. Please contact Stephen Simonelli to schedule at ssimonelli@hfflp.com or 973-549-2035. Investment Highlights: ñ100,276 SF four story office building in Cherry Hill ñ50.1% occupied with lease signed to increase occupancy to 66.8%, effective 5/16/18 Value-add opportunity through additional lease up Weighted average in-place rents and CAM reimbursement of $25.16 PSF Cherry Hill premier office location ideal for suburban Philadelphia commuters and families Strong local amenities and demographics to support long-term office demand Investment Overview: 6 Executive Campus (the "Property") is a ñ100,276 SF, three-story office building located proximate to State Road 70 in Cherry Hill, Camden County, New Jersey, less than fifteen minutes from Center City Philadelphia. Constructed in 1982, the four-story 6 Executive Campus contains ñ100,276 rentable square feet and is part of the greater Cherry Hill Executive Center, which is comprised of eight buildings and is surrounded by a wooded campus setting. The Property is currently occupied solely by Camden County, part of the state government. The building sits on ñ6.55 acres and feature The building sits on ñ6.55 acres and features multiple entrances. Parking is dispersed around the exterior with 428 parking spaces (a parking ratio equal to 4.27 to 1,000 square feet) including eight handicap parking spaces. The building contains three sets of stairs and two passenger elevators. The Property has exclusively government tenancy effectively reducing collection risk to zero and significantly minimizing any additional vacancy risk. Currently, the Property is ñ50.1% occupied by Camden County with a lease signed with U.S. General Services Administration to increase occupancy to 66.8% starting 5/16/18. With weighted average lease terms of 10.1 years for 6 Executive Campus, and virtually risk-free cash flow from an in-place roster of government tenants, the Property has the stable income necessary for the investor to undertake thoughtful value-add improvements. The Property offers tenants exceptional access to public transportation, major roadways, and retail amenities. The building is within walking distance of the Cherry Hill NJ Transit station, which offers service to Philadelphia within 30 minutes and is across the street from an NJ Transit bus stop. In addition, 6
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PROPERTY TAXES
Parcel Number | 09-00016-01-00005 | Improvements Assessment | $3,483,583 |
Land Assessment | $1,332,978 | Total Assessment | $4,816,562 |
PROPERTY TAXES
Listing ID: 9340366
Date on Market: 2017-09-27
Last Updated:
Address: 6 Executive Campus, Cherry Hill, NJ 08002
The Office Property at 6 Executive Campus, Cherry Hill, NJ 08002 is no longer being advertised on LoopNet.ca. Contact the broker for information on availability.
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