8B — June 12 - 25, 2020 — New Jersey — M id A tlantic Real Estate Journal
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N ew J ersey
Black Creek Group purchases two seperate parcels from Foxdale Properties Lee & Associates arranges $14.75 million sale of 30.8-acre site in Florence Township, NJ F
accessibility to US Rte.130, the NJ Turnpike and I-295. This exceptional location within the Southern NJ industrial mar- ket provides last mile delivery capabilities throughout the Northeast Corridor. Burlington County has historically been considered the strongest indus- trial submarket within South- ern New Jersey, consisting of over 30.6 million square feet of inventory as of first quarter 2020. Vacancy in Burlington County has hovered at or below 5.0% over the last three years, even with over five million s/f of new construction delivering throughout that time frame. “Burlington County is one of the most desirable loca- tions for industrial develop- ment throughout the Northeast Corridor due to its excellent accessibility to both the Phila- delphia and New York City metropolitan areas; over 90% of new space delivered in the county since 2017 has been either pre-leased or leased within three months of being constructed, showcasing the strength of this submarket,” added Hill. MAREJ CSIT, NJEDA promote funding opportuni ty for Clean Energy Sector Businesses and Researchers NEWARK,NJ — The New Jersey Commission on Sci- ence, Innovation and Tech- nology (CSIT), the New Jersey Economic Develop- ment Authority (NJEDA), and the New Jersey – Israel Commission encouraged busi- nesses and researchers within the Garden State’s clean en- ergy sector to submit propos- als for “BIRD Energy” grant funding of up to $1 million. Entities partnering with an Israeli company or university on a clean-energy project can get more details about the competitive funding opportuni- ties at https://www.birdf.com/ bird-energy-call-proposals/. Executive summaries for the proposals are being accepted through June 30, 2020. BIRD Energy is a collab- orative effort between the U.S. Department of Energy (DOE), the Israel Ministry of Energy, the Israel Innovation Authority and the Israel - U.S. Binational Industrial Research and Devel- opment Foundation. MAREJ
with the Lee &Associates team. John Dewey of MDI Strate- gies, LLC provided consulting services to the owner, helping to plan and complete the entitle- ment/approval process for the property prior to the sale. “The site’s premier, infill location combined with its immediate development po- tential attracted every major institutional developer on the East Coast. The outcome was an extremely competitive mar- keting process where we were able to drive pricing to the highest achievable level,” said Yoshimura. The site offers convenient
LORENCE TWP., NJ — Lee & Associates of Eastern Pennsylvania’s Capital Markets team orches- trated the $14.75 million sale of a 30.8-acre site located on Railroad Ave. in Florence Twp., Burlington County. Black Creek Group purchased the land, which consisted of two separate parcels, from Foxdale Properties . At the time of sale, the site was fully approved for the construction of a 300,700 s/f warehouse/distribution facility. Lee & Associates of Eastern Pennsylvania’s Capital Mar- kets team consisting of Bob Yoshimura, Joe Hill, Eric
30.8-acre site located on Railroad Ave. rendering
Mattson and Joe Hill, Jr. represented Foxdale Properties in the sale. Robert Lambert ,
from Cushman &Wakefield ’s Irvine, California office, co- brokered the deal in conjunction
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