50,000-SF Office Condos Under Construction

WOOLWICH TWP., NJ-Nexus Properties has started construction for Lexington Mews, a 50,000-sf commercial office complex at Center Square and Auburn Rd. in this Gloucester County community. The site plan consists of five separate one-story professional office condos, each containing 10,000 sf. The individual buildings are divisible to 2,000 sf.

And Underwood-Memorial Hospital is already under contract for a large block of that space. The Woodbury, NJ-based institution is set to take a total of 20,000 sf, and hospital officials say they expect to take occupancy in the winter of 2008.

For purchasers of the office condo units, the Lawrenceville, NJ-based Nexus will provide a $25 work letter allowance to be applied toward interior construction costs, according to information released by the company. Nexus will also provide space planning assistance. The preconstruction purchase price was listed at $225 per sf for office space and $100 per sf for basement space.

Lexington Mews is also part of this community’s Weatherby Town Center redevelopment. General plans call for upwards of 4,500 residential units, 250,000 sf of commercial space and a 20-year build-out. The township is slated to break ground later this year for a new municipal complex within the tract, and a 50,000-sf shopping center project is said to be ready for presentation before the planning board.