The Praedium Group, a New York City-based national real estate investment firm, announced today a joint venture acquisition with Pennsylvania-based Endurance Real Estate Group to purchase the Colwick Business Center in Cherry Hill, N.J.
The value of the transaction was $15.2 million.
Built in 1987, the office property, located at 53, 55 and 57 Haddonfield Road, consists of three single-story buildings amounting to 169,896 square feet. At the time of purchase, the property was 86 percent occupied.
Endurance Real Estate Group LLC is a real estate investment firm operating in Philadelphia and the surrounding area.
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