Brandywine Realty Trust sells Cherry Hill office park to N.Y. firm for $19M
Brandywine has been selling off properties seen as non-core assets as part of its focus on big projects in city centers.
Brandywine Realty Trust has sold the three-building Woodland Falls Corporate Park in Cherry Hill for $19 million.
The properties at 200, 210, and 220 Lake Drive East were purchased by Crown Properties Inc. of New York, Brandywine chief executive Jerry Sweeney said in an email on Thursday.
The buildings, containing an aggregate 215,465 square feet, were 93.3 percent leased when the sale closed on March 30, Radnor-based Brandywine said this week in a regulatory disclosure. Tenants at the site include AXA Advisors-affiliate Oak Financial Partners LLC and M&T Bank Corp.
Brandywine has been selling off properties seen as non-core assets as part of its focus on big projects in city centers, such as its work with Drexel University on the Schuylkill Yards master-planned development in University City.