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Claret Buys 160,000-SF Flex Portfolio

MARLTON, NJ-The Dublin-based firm has acquired the five single-story assets along Stow Road from Liberty Property Trust.

By Eric Peterson | Updated on October 03, 2008

MARLTON, NJ-Claret Capital, a Dublin, Ireland-based group with a regional office in Philadelphia, has acquired a portfolio of five, single-story flex buildings totaling 160,000 sf from the Malvern, PA-based Liberty Property Group. The buildings are located at 8, 9, 10, 12 and 14 E. Stow Rd. and range in size from the 55,000-sf 9 E. Stow building to the 19,000-sf 14 E. Stow building. All five were completed in 1988, and the property consists of approximately 20 acres.The deal was handled for both sides by Joseph Sklencar Sr., SVP of the private capital investment group of the local office of Grubb & Ellis, and Joseph Sklencar Jr., senior associate in the same firm’s office group. The sale price was not released, but industry sources put the number around $15-million. Besides handling the sale, Grubb & Ellis has picked up the leasing and management assignment from Claret.

“This transaction was a value-added opportunity for the buyer,” says Sklencar Sr., in a statement. “Particularly in today’s market, it’s important that we’re seeing international investment in Marlton.”

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