Transactions: LaSalle acquires 150,000 s.f. MOB

LaSalle Investment Management acquired a 150,000 square foot repurposed former retail store from Finmarc Management for $81.8 million. Photo courtesy of Penn Medicine

Price was $81.8 million for repurposed former retail store in Cherry Hill, N.J.

By John B. Mugford

When Bethesda, Md.-based Finmarc Management Inc. acquired a vacant Syms department store building on an 11-acre in a heavily trafficked area of Cherry Hill, N.J., for $4.75 million in 2013, it had a number of options for transforming the building.

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