Camden County Improvement Authority pays 13.9M for 102K sq.ft. building

The Camden County Improvement Authority recently announced it has purchased a 102,000-square-foot building along Camden’s “eds and meds” corridor.The Camden County Improvement Authority recently announced it has purchased a 102,000-square-foot building along Camden’s “eds and meds” corridor.

The Authority said it will begin negotiating with private entities to occupy parts of the building.

“The commercial building adjacent to the Camden County Police Station that sits at 101 Haddon Ave. was purchased for $13.9 million last Friday by the authority,” Freeholder Director Louis Cappelli said. “This five-story cornerstone structure within the downtown will play a pivotal role in the ongoing economic transformation of the city. The CCIA will pay for the financing of the building with new lease agreements from future tenants of 101 Haddon.”

The CCIA purchased the property from the state. It is currently 40 percent occupied.

“The CCIA saw an excellent opportunity to take control of the site, update it and make it a key asset to Camden’s resurgence,” Cappelli said.