Newmark Arranges Sale and Financing of Class A Office Portfolio, Moorestown Corporate Center, in New Jersey

June 13, 2025 9:00 AM

Newmark has arranged the sale of Moorestown Corporate Center, a three-building, 222,888-square-foot Class A office portfolio in Moorestown, New Jersey. Keystone sold the asset to an affiliate of Melrose Solomon Enterprises for $17.6 million.

Newmark Senior Managing Director David Dolan, Associate Angelo Brutico, and Executive Managing Director Anne Klein facilitated the sale on behalf of the seller. Newmark Executive Managing Director Stephen Comly and Assistant Vice President Eric DeStefano arranged financing on behalf of the buyer.

“The portfolio features a rent roll of five high-quality, long-term tenants with stable cash flow and provides new ownership exceptional upside through the lease-up of the remaining available office space,” said Brutico. “We had the pleasure of working with both seller and buyer to bring this transaction to a successful outcome.”

Moorestown Corporate Center, located at 224, 228, and 232 Strawbridge Drive, sits just off Route 38 and Fellowship Road in Moorestown, New Jersey. The property benefits from quick access to major highways, including Interstate 295 and the New Jersey Turnpike (Interstate 95). It is surrounded by anabundance of retail and entertainment amenities, just over a mile away from the Moorestown Mall. The three-building portfolio features multi-story panoramic atriums, a common café and outdoor seating area, and a brand-new fitness center. Set on 16.18 acres, the property is just 13 miles from Philadelphia and 90 minutes from New York City.

“We’ve worked hard to modernize and reposition Moorestown Corporate Center over the years,” said Randy Johnson, Regional Director at Keystone, “and we’re pleased to complete this transaction with a buyer who shares our commitment to long-term value and a high-quality tenant experience.”

Melrose Solomon is a real estate investment firm with office, retail, and industrial properties in the Midwest, Mid-Atlantic, and Southeast. With a disciplined value buying strategy, they have built their real estate portfolio to over 2 million square feet over the last decade.

About Keystone
Keystone is a vertically integrated commercial real estate development and investment company. It delivers value for investors and tenants by creating mixed-use developments that revitalize neighborhoods, empower people, and drive productivity and collaboration. Headquartered in West Conshohocken, Pennsylvania, its portfolio of iconic projects attracting world-class companies includes 10 million square feet of office and mixed-use properties with 2 million square feet under development and spans locations along the East Coast. Keystone has offices in Philadelphia; Morristown, New Jersey; and Miami.
For more information, please visit www.keystone.us.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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