Holliday Fenoglio Fowler, L.P. (“HFF”) has been retained on an exclusive basis to arrange the sale of Lippincott Centre (the Property or Properties”), a two building CLass A office campus totalling 65,742 square feet located at 301 & 303 Lippincott Drive in Mariton, Evesham Township, Burlington County, New Jersey.
Lippincott Centre i QQ% leased to three premier tenants: Virtua Health, Inc. (Fitch AA-), Morgan Stanley Wealth Management (Moody’s A3) and Friedman, LIP, an internationally recognized accounting and advisory firm. Virtua Health (or “Virtua “) anchors nearly 83% of the campus and selected Lippincott Centre as its corporate headquarters due to the highly desirable location in the middle of its existing and continually growing footprint of over 40 satellite locations in New Jersey.
Virtua continued commitment to Lippincott Center can be seen through its expansion within the Properties as non-hospital tenants vacate. Lippincott Center provides an investor with 7.24 years of weighted average lease term along with a particularly attractive opportunity to acquire bet.in-class real estate with stable and increasing future cash flows and minimal landlord responsibilities at a significant discount to replacement cost.
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