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Real Estate Journal — New Jersey — January 15 - 28, 2016 — 7B Material Handling Supply moves to Pennsauken, doubles size of facility


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Zirk and Sarkisian of CBRE represent Subaru CBRE represents Subaru in transition to 250,000 s/f HQ C

house and a service area. With more room, Material Handling Supply can offer an expanded line of equipment, services, parts and training. Currently, they supply new and used lift equipment. They also design and install storage systems. According to Brett Levin , Material Handling Supply’s vice president, “Keeping our headquarters in South Jersey was so important to us because it is a central location for our business that would not pro- hibit our team members to continue to work with us. The Pennsauken facility is perfect and will allow us to open the doors to our customers and distributors for in-depth train- ing while having the necessary space to continually provide outstanding service and equip- ment to our clients.” n

PENNSAUKEN, NJ — Material Handling Supply moved from a 50,000 s/f facil- ity and opened the doors to their new 104,000 s/f location at 6965 Airport Highway, Pennsauken. A long standing South Jersey based company that originated in Brooklawn, NJ in 1970 with only two people, now employs over 140 employees. In 2005, they expanded and opened a loca- tion in New Castle Delaware and in 2011 they opened an additional facility in Seaford Delaware, extending their service area to five states including, New Jersey, Penn- sylvania, Delaware, Maryland and Virginia. The new Pennsauken fa- cility is twice as large as the Brooklawn facility and features a 50-person training area, a front office, a ware-

AMDEN, NJ — Suba- ru of America broke ground on i ts new 250,000 s/f corporate head- quarters near Admiral Wilson Blvd. in Camden. CBRE’s Ken Zirk and Jon Sarkisian rep- resented Subaru and James Carter and Darrell Schuler , both members of the project management team, were also instrumental in the success of this project. Subaru is moving its North American headquarters from Cherry Hill to Camden at a time when the company has produced record sales in recent years, including seven con- secutive years of double-digit growth. “CBRE is honored to have represented Subaru in helping them secure their new corpo- rate headquarters in Cam- den,” said Robert Walters , executive managing director at CBRE. “I am proud of the outstanding service provided CINNAMINSON, NJ — Holliday Fenoglio Fowler, LP (HFF) announced that it has closed the $5.4 million sale of Riverline Self Storage, a 381-unit self storage facility located in the Philadelphia suburb of Cinnaminson, NJ. HFF marketed the property on behalf of the seller, a local private investor. Prime Group purchased the asset free and clear of existing debt. Riverline Self Storage’s two buildings total 63,539 rent- able s/f. The property’s 381 climate-controlled units total 36,586 rentable s/f and oc- cupy portions of both two-story buildings. The remaining 26,953 rentable s/f is occupied by a combination of office, re- tail and warehouse tenants. Situated on 4.5 acres at 1714 Bannard St., the facility is in the northern part of Cin- naminson, a New Jersey com- munity on the Delaware River approximately 12 miles from downtown Philadelphia. The property is located near the Tacony-Palmyra and Betsy

Rendering of Subaru’s future HQ

by our sales professionals and project management teamwho were instrumental in helping to make this project a success. This new facility will allow Subaru to continue to provide outstanding service to the Greater Pennsylvania Region and around the world.”

The new development will house all of their HQ em- ployees on one campus, and the new five-story building is double the size of Subaru’s current Cherry Hill location. Subaru will accommodate the more than 600 employees at its new campus. n

Colliers represents landlord in lease at Voorhees Tech. Center

HFF closes $5.4 million sale of self storage property in Cinnaminson, NJ

Voorhees Technology Center

The larger suites have been completely demoed and are ready for custom fit-outs. The landlord has approved plans for upgrading the common area lobby and hallways. “This lease continues a com- mon theme in 2015 where Landlords have spent capital dollars upgrading their assets to better compete in the mar- ketplace. With vacancy rates where they are, this is more important now than ever”, said Brian Sherlock. Conveniently located be- tween Routes 30 (White Horse Pike) & 561 (Haddonfield- Berlin Rd.), 401 White Horse Rd., Voorhees, NJ is easily ac- cessible to its tenant base. It’s just a short drive from I-295 and Center City Philadelphia, is proximate to the PATCO train line, and has a NJ Tran- sit Bus stop (Route 459) at its front door. n

VOORHEES, NJ — Col- liers International ’s South- ern New Jersey team of Brian Sherlock and Evan Zweben recently represented the land- lord in the expansion of its lease with Comcast Corpora- tion, at Voorhees Technol- ogy Center, located at 401 White Horse Rd., Voorhees. Binswanger ’s Marc Policar- po and Bob Corr represented Comcast in the expansion. Comcast is already a ten- ant in the building and will be expanding their current operation by 42,000 s/f, with occupancy in early 2016. This will bring their footprint over 150,000 s/f of the 215,000 s/f building. Harris School of Business is the other tenant in the building. The expansion leaves just three vacant spaces; first floor suites of 4,461 and 11,185 s/f; second floor suite of 18,946 s/f.

Riverline Self Storage

Ross bridges and serves the communities of Cinnaminson, Delran, Riverton and Palmyra. The HFF investment sales team representing the seller was led by managing director Richard Schontz and direc- tor Barbara Guffey . “The property is well-located and has strong in-place oc- cupancy,” Schontz said. “The

purchaser will also have the ability to expand Riverline Self Storage’s net rentable square footage immediately, creating additional value. The property fits well into Prime Group’s growing Philadelphia-area portfolio and we were pleased to be able to facilitate the transaction.” n

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