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3 Executive Campus, a Cherry Hill, N.J., property owned by FMCF 3X LLC, continued its strong leasing success with the execution of a lease with CDW (NASDAQ: CDW), a leading provider of integrated information technology solutions in the U.S. and Canada.
Situated on 27 acres, the six-story property is located in Cherry Hill’s ‘Golden Triangle’ with easy access to all major regional thoroughfares and mass transportation. According to exclusive leasing agents, Anne Klein and Keith McClure with Newmark Grubb Knight Frank, CDW signed a new lease for 31,121 square feet and will relocate from its offices at Four Echelon Plaza in Voorhees, N.J., in June 2014. One of the largest office buildings in Southern New Jersey, 3 Executive Campus comprises 430,995 square feet with large floorplates enabling CDW to concentrate its operations into one contiguous floor.
“We are excited to accommodate CDW’s need for greater operational efficiency,” noted Ms. Klein . “It’s a primary factor in negotiations. In total, the extensive improvements and first class amenities have resulted in more than 75,000 square feet of new occupancy and significant tenant renewals in recent months.”
Prominent tenants include Lockheed Martin, Subaru of America, Berkshire Hathaway HomeServices, Cooper Health Systems and Campbell Soup.
At the time of purchase in September of 2011, 3 Executive Campus was 58% occupied. A significant capital improvement program implemented in 2012 included a fully renovated, contemporary designed lobby; upgrades to vital building systems, including HVAC, security and fire systems; and an extensive enhancement of the parking areas. Now, the property is more than 80% occupied. The current largest single-floor availability is approximately 50,000 square feet, with varied options for small- to mid-sized tenants.
CDW was represented by Jon Sarkisian of CBRE.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.