CHERRY HILL, NJ-A joint venture of Bergman Real Estate Group and Time Equities, Inc. has lured Benefits Consultant Group to its renovated office building at 51 Haddonfield Road here.
The tenant's representative, Ken Clyman of Ken Clyman Realty, said that the company had been content in its long-time home in an industrial park, but “thrilled” discover it could make an upgrade when economic conditions made it feasible.
“The move allows the tenant to dramatically upgrade its company image and headquarters facility,” Clyman said. BCG took 21,000 square feet at the 100,000-square-foot office building.
Bergman and Time Equities acquired the building last year, and began extensive renovations to the parking lot and lobby. Also, as part of TEI's Art in Buildings program, a rotating art gallery of work by local and national artists was installed.
Newmark Grubb Knight Frank's Anne Klein and Brian Sherlock have exclusively represented ownership during repositioning of the office space.
“Bergman and Time Equities have created a flight to quality within the market," Klein said. "The well-capitalized owners can offer unusually competitive rental rates for a high-end Class A building that features on-site management and access to an impressive number of amenities. It is a rarity in South Jersey and tenants are benefiting from the opportunities.”
Three other recent transactions at 51 Haddonfield Rd.:
- CorVel Corporation, a healthcare management company renewed for 3,371 square feet. Cresa Orange County represented the tenant, while Bergman's John Osborne represented ownership.
- Danville Sales Company, which markets plumbing products, signed for 718 square feet of space, with Klein and Sherlock representing both sides.
- Dr. Anne L. Rosenberg a 3,186-square-foot lease. Jones Lang LaSalle's Dan Close represented the tenant, while Osborne represented ownership.
Michael Bergman, president and CEO for Bergman, said, “These lease transactions validate our belief that there is a plethora of untapped potential in the Cherry Hill market. We will continue to improve the property and offer aggressively priced lease rates until the property is fully occupied.”
The property on Haddonfield Road is located adjacent to the Cherry Hill Mall. It has an on-site café, on-site building manager, fitness center and outdoor picnic spot.
Space available ranges from 700 to 21,400 square feet. Many of the spaces are pre-built and move-in-ready. Asking rents start at $16 per-square foot.
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