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Keystone Property Group sells offices to N.J. real estate firm for $34M

Conshohocken-based Keystone Property Group sold the Blue Bell offices Sentry Park 4 & 5 to Jersey City-based Hudson Equities for $34 million on Oct. 25.

5 Sentry Parkway was one of two office buildings in Blue Bell sold to Jersey City real-estate firm Hudson Equities.
5 Sentry Parkway was one of two office buildings in Blue Bell sold to Jersey City real-estate firm Hudson Equities.Read moreHalkin Mason Photography
    by Katie Park
    Published 

Conshohocken-based Keystone Property Group has sold two Blue Bell office buildings to Jersey City, N.J., real-estate firm Hudson Equities for $34 million, a spokesperson said Monday.

Keystone bought Sentry Park 4 and 5 in 2013 and spent nearly $5 million renovating the three-story buildings with amenities and new construction, according to the New York City public-relations and digital marketing firm Antenna Group. Keystone finalized the purchase with Hudson Equities on Oct. 25.

The firm declined to say how much Keystone paid for Sentry Park six years ago.

The 2013 purchases of the Sentry Park properties were part of a portfolio acquisition from Mack-Cali Realty Corp., a source familiar with the deal said.

The offices, which collectively have 196,273 square feet, have 23 tenants who have filled 93% of the property. There are no changes expected for the tenants.

Ephraim Hasenfeld, president of Hudson Equities, was not available for comment Monday.