S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
M id A tlantic
NAI Mertz represents 40,156 s/f lease at 510 Sharptown Rd. Liberty Property Trust completes 950,000 s/f of leasing in Gloucester County, New Jersey
OUTHERN, NJ — Lib- erty Property Trust signed leases totaling
Arlington Blvd. R.E. Perry Company represented XPO in both transactions. • Also in the fourth quarter, Visual Communications signed a renewal for 48,304 s/f at 201 Berkeley Dr. and a new lease for 63,913 s/f at 500 Sharptown Rd. • Over the summer Amazon signed a new lease for 53,046 s/f at 800 Arlington Blvd. in Commodore 295 Business Cen- ter and were represented by Cushman &Wakefield in the transaction. • Pureland Industrial Park picked up new tenant Champi- on Services with a new lease at 510 Sharptown Rd., a 40,156 s/f building and also at 512 Sharp- town Rd., a 58,000 s/f building. They were represented by NAI Mertz .
950 , 000 s / f of space in S o u t h e r n New Jersey in 2018, and e n d e d t h e year with 99% occupancy in the region. “We contin-
ue to provide regional operators with space for their industrial needs, and with our portfolio consistently maintaining high HI-LIGHTS MARCH 15 - 28, 2019
201 Berkeley Dr.
occupancy we are always evalu- ating future growth opportuni- ties,” said Peter Corcoran , vice president of leasing and development for Liberty’s New
Last Mile leased 60,000 s/f of space at 2185 High Hill Rd. and in July leased 105,840 s/f at Liberty’s recently completed class A industrial building, 200
Liberty’s 2018 leasing highlights in Gloucester County, New Jersey • In the fourth quarter, XPO
Colliers International brokers sale of 177,000 s/f industrial building inRobbinsville
SPOTLIGHT NORTHERN NJ
ROBBINSVILLE, NJ — Colliers International Group Inc. announced the sale of Washington Park at 1100 Rte. 130 in Robbinsville. The 177,000 s/f industrial property, situated on 18.57 acres of land, is a highly functional, multi-tenanted distribution/warehouse space. The sale price and the buyer were not disclosed. Colliers brokered the sale on behalf of the seller. The investment services team included Jacklene Chesler, Patrick Norris, Matthew Brown and Jonathan Tes- ser . “The Colliers team was extremely diligent in push- ing to get this transaction to the finish line and the results exceeded the seller’s expecta- tions ,” said Michael Simon of Simon Holdings, Inc. , ad- visory services consultant on behalf of the seller. “The team was able to generate 12 highly qualified offers and conducted over 20 property tours.” Washington Park is located in the Exit 7A industrial sub- market, minutes away from I-195 and the New Jersey
1100 Rte. 130
Tpke. Corridor. The property is situated in a prime distri- bution/logistics area provid- ing superb access to major freight-moving roadways and infrastructure, with direct routes. to NYC, the Port of New York and New Jersey, the Port of Philadelphia, and both Newark International Airport and Philadelphia In-
ternational Airport. The sub- market is home to many large distribution tenants including Amazon, Falken Tire, Lay-Z- Boy and Kenco & SanMar. “We saw tremendous inter- est from institutional buy- ers, private equity and users given that Washington Park is located in the 7A submarket that is poised for future rental
appreciation,” said Chesler of Colliers. “Investor interest and demand for industrial product remains robust in New Jersey.” Chesler and team also re- cently closed another deal in Robbinsville for The Shoppes at Foxmoor, a 126,000 s/f retail center located at 1095 Washington Blvd.
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