Updated Jun 18, 2025
Melrose Solomon Enterprises Acquires Moorestown Corporate Center Office Portfolio From Keystone For $17.6M
224 Strawbridge Drive
$17,600,000
$79/SF
Building Size
222,888 SF
Asset Type
Office
Closing
Jun 17, 2025
About this deal
AI
The transaction involves the sale of an office portfolio comprising three properties located at 224, 228 & 232 Strawbridge Drive in the Moorestown market. The sale price amounts to $17,600,000 and the total square footage of the properties is 222,888, translating to a price per square foot of $79.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,600,000
- Buyer: Melrose Solomon Enterprises
- Seller: Keystone
- Brokers: David Dolan, Angelo Brutico & Anne Klein - Newmark
- Mortgage Brokers: Steve Comly & Eric DeStefano - Newmark
Melrose Solomon Enterprises acquired the Moorestown Corporate Center office portfolio from Keystone. The transaction was facilitated by Newmark, with brokers David Dolan, Angelo Brutico, and Anne Klein managing the sale. Financing for the buyer was arranged by mortgage brokers Steve Comly and Eric DeStefano, also from Newmark.
On the Map
$17,600,000
$79/SF
Office
View full map
Players
Moorestown Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit David "Dave" Dolan to view all their deals.
Browse Moorestown office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93