![](http://mountlaurelindustrialspace.com/wp-content/uploads/2022/03/industrial--300x300.png)
Prologis Inc. has paid $13.25 million for a 114,646-square-foot office building in Mount Laurel that it intends to raze to make way for a new 184,500-square-foot industrial facility.
Veritas Real Estate of Marlton, New Jersey, was the seller. While real estate companies have eyed well-located vacant or obsolete office buildings for industrial use in other markets, those transactions haven’t been as prevalent in the Philadelphia region. The sale of 112 West Park Drive to Prologis (NYSE: PLD) may be the first of more to come as office landlords start to evaluate their properties in a market that remains in flux.
About 80% of the building, which sits on nearly 17 acres, was vacant as a result of Comcast Corp. departing as a tenant. A few tenants occupying about 30,000 square feet remain and have leases expiring over the next couple of years.
*Article courtesy of Philadelphia Business Journal
For more information about this industrial space in Mount Laurel NJ, or about any other Mount Laurel commercial properties for sale or lease, please contact the team at Wolf Commercial Real Estate at 856-857-6300.
Wolf Commercial Real Estate is the foremost Mount Laurel commercial real estate broker that provides a full range of Mount Laurel commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Mount Laurel commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Mount Laurel commercial properties for lease or sale through our Mount Laurel commercial real estate brokerage firm.