Colliers is pleased to announce the single tenant net lease sale of 16 Roland Avenue in Mount Laurel, NJ on behalf of East Capital Partners. The transaction was completed by Marc Isdaner and Ian Richman of the Colliers Mount Laurel, New Jersey office. A private investor bought the building as part of a 1031 Exchange. Terms are not disclosed.
The 17,768 square foot property is fully occupied and was recently renovated in 2022. 16 Roland Avenue enjoys immediate access to both Exit 4 of the NJ Turnpike and Exit 36 of Interstate 295.
Drew Dewitt, Principal with East Capital Partners, noted “We were excited to round trip this opportunity after marking the tenant to market upon its lease expiration. Ian and his team were instrumental in this leasing effort as well as finding a strong 1031 buyer to acquire the property.”
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
About East Capital Partners
East Capital Partners is a privately owned real estate investment company that invest in off-market institutional real estate and developments in the Eastern United States on behalf of our own account, pension funds and other leading institutions and individuals. East’s approach to value creation ranges from the less intensive – improving existing operations, leasing, and renovations – to more intensive activity such as major repositioning, change of use, and ground-up development. For more information, please visit https://eastcp.com.
