Liberty sells Mt Laurel building at $40/sq ft

Monetery LLC property group paid $2.17 million for this 54,185 square-foot, single-story block and metal flex building in Mt. Laurel's Greentree North Business Campus. (Photo from

Liberty Property Trust, Malvern (corrected), has sold 8000 Commerce Parkway, a Mount Laurel that provides "flexible" space (office or warehouse), to the locally-based Monterey LLC property group. Leor Hemo of Wolf Commercial Real Estate represented the buyer, according to spokesman Andrew Becker.

Monterey agreed to pay $2.167 million, or $40/sq ft for the 54,185 sq ft property. Given the weak market demand for all but the highest-end suburban commercial properties, Liberty has lately been selling suburban office and "flex" space and buying warehouses.