3 Executive Campus Goes Up for Sale

One of Cherry Hill’s 50 most valuable properties is on the market, according to a report from the Philadelphia Business Journal.

Three Executive Campus, part of the massive Cherry Hill Executive Campus on the west side of the township, has been put up for sale by owner Madison Capital, potentially for as much as $28 million, according to the report.

That price would represent more than double the assessed value for the property as it stands now—in fact, the assessment has fallen in each of the last three years, down to half of what it was in 2011, according to property tax records.

The 27-acre property and 439,000-square-foot building were assessed at a total of $12.8 million in 2013, down from $24.6 million when Madison Capital foreclosed on the property in 2011.

The 37-year-old building has undergone several renovations since it was first built, including one in 2012 by Madison Capital, which included a complete gut of the lobby and replacement of fire and safety systems.

Lockheed Martin currently maintains offices in the building, along with Prism Career Institute, Rutgers University, Cooper Health Systems, Campbell Soup Company and others.