S hopping C enters N ew J ersey /P en sylvania

M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B


Giletto & Richardson team sells 850K+ s/f of multi-purpose comm’l. inventory in 2021 so far Vantage Commercial facilitates the sale of Atlantic Commerce Center in Hammonton, NJ


Robins’ R&D and Corporate Offices and will undergo a conversion back to its origi-

AMMONTON, NJ — Vantage Commer- cial has successfully

nal use as a light manu- facturing and i n d u s t r i a l complex. The single-story bui lding is we l l l ocat - ed in close proximity to

f a c i l i t a t e d the sale of a +/ - 105,000 s / f f o rme r office build- ing, located at 1001 S. Grand Ave. in Hammon- t o n . T h i s

Corinne Giletto Ken Richardson

the Atlantic City Express- way, minutes from downtown Hammonton, and is only 30 minutes from the Atlantic City Airport and 45 minutes from the Port of Philadelphia. Initially, Vantage Commer- cial was hired to lease office space within the complex. With the slow-down in office leasing, resulting from the global pandemic, Vantage pro- cured a listing with ownership to sell the property. Corinne Giletto, senior ad- visor, and Ken Richardson , executive director at Vantage

well-positioned asset sits on 24 acres with a potential for expansion. The property is the former home of Whitehall- HI-LIGHTS DEC. 24, 2021 - JAN. 20, 2022

1001 S. Grand Ave. in Hammonton, NJ low. The growth of e-commerce has created an incredible demand for these facilities, driving prices to record levels. “We are extremely focused on bringing new opportunities to the market that have been under-utilized or unrecognized in today’s market. It is impor- tant to look beyond the data and to think outside of the box in today’s current commercial

Commercial represented both the buyer and seller, respec- tively, in this transaction. The team of Giletto and Richardson has sold 850K+ s/f of multi- purpose commercial inventory so far this year. They service both the NJ and PA markets and have current investors waiting on inventory. Vacancy rates for industrial properties are near an all-time

climate,” Giletto said. “The current shortage of industrial space in addition to the lead-time to build new ca- pacity offered the opportunity for conversion of this build- ing. The new owners, who are seasoned investors, saw the potential for the conver- sion from office to industrial in this demanding market,” Richardson states. MAREJ

3-6B SPOTLIGHTS NORTHERN NJ Hudson Equities leases of 6,500 s/f at 300 Tice Blvd., Woodcliff Lake

MAG Capital Partners adds 500,000 s/f to its industrial manufacturing portfolio with 5-property, sale leaseback

PENNSYLVANIA — MAG Capital Partners, LLC has acquired an approximately 500,000 s/f industrial manu- facturing portfolio in a sale leaseback with Metal Powder Products (MPP), owned by Mill Point Capital. MPP is a global provider of custom- engineered Powder Metallurgy/ Metal Injection Molding (MIM) solutions for industrial applica- tions. The company occupies production facilities in the U.S. and China specializing in the production of various custom- engineered components and high strength aluminum parts for use in a range of industries, from automobile production to medical devices and construc- tion. MAG Capital Partners pur- chased four facilities near Pittsburgh: 700 Martha St., Punxsutawney, PA.; 409 Third St., Falls Creek, PA.; 150 Ford Road, St. Mary’s, PA.; and 879 Washington St., St. Mary’s, PA. The properties are situ-



11-BC B

NAI CIR negotiates sale of 5,500 s/f flex building in Camp Hill

metal molding sector; we are pleased to be of service to both Mill Point Capital and MPP,” said Dax T.S. Mitchell , prin- cipal of MAG Capital Partners. Many objects encountered in everyday life such as cars, smartphones, watches, medical devices, domestic appliances, cameras and power tools con- 409 Third St., Falls Creek, PA

ated on roughly 66 acres, of- fering centralized production, warehousing and distribution. Additionally, MAG Capital Partners bought 596 W. Oak St. in Campbellsburg, Indiana. The 15.73-acre site serves as MPP’s global headquarters. “MPP is an innovator and leader in the $2 billion-a-year

tain Metal Injection Molded parts and MPP is one of the world’s leading companies, serving over 700 customers in 36 countries. Newmark’s JC Asen- sio, Andrew Sandquist and Briggs Goldberg rep- resented the seller in the transaction. MAREJ



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