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JLL Closes Sale, Financing for Philly-Area Offices
JLL closed the $33-million sale and $24.75-million financing of Woodland Falls, a three-building, Class A office portfolio totaling 217,986 square feet in Cherry Hill, NJ. The firm marketed the property on behalf of seller Crown Properties, and procured the buyer, SFA, while also working on SFA’s behalf to secure the 10-year, fixed-rate acquisition loan.
Woodland Falls is located on 17 acres within the Woodland Falls Corporate Park, just off of Route 38 in Cherry Hill. It’s approximately a 10-minute commute to Center City Philadelphia. The properties were built in the late 1980s and are 92% leased overall to primarily credit tenants.
The JLL Capital Markets team representing the seller was led by senior managing director Doug Rodio. The team representing SFA was led by senior managing director Ryan Ade and directors Neil Campbell and Michael Pagniucci.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
