M id A tlantic Real Estate Journal — Office & Industrial Distribution Centers — May 20 - June 16, 2022 — 11A
www.marej.com
O ffice & I ndustrial D istribution C enters Jonathan Klear leads team representing seller & buyer NAI Mertz inks sale of 140,000 s/f industrial building in Delanco, New Jersey by two new loading docks.
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ELANCO AND MARLTON, NJ — NAI Mertz an-
• Westrock, one of the larg - est corrugated packaging com - panies in the United States, leased a 15,000 s/f flex unit. WestRock is a publicly traded business on the New York Stock Exchange and boasts over $18B in annual revenue. • Schmid Dewland Associ - ates leased a 5,000 s/f unit. This unit will soon become Schmid’s headquarters and will feature roughly 50/50 office/warehouse footprint with the warehouse portion hosting a demo kitchen for its customers. MAREJ
n o u n c e d the team of Jonathan Klear , senior vice presi- dent, Roy Ka r d on , SIOR , vice president; Jeff Licht,
Jonathan Klear
jobs. Reducing the inventory of obsolete commodity type office product, which is fairly prevalent in South Jersey. We are truly in unchartered waters with little relief in sight. Many experts contend these market conditions are unsustainable, but how long these market conditions can continue is extremely difficult to predict. Sean Kelly is vice presi - dent of Wolf Commercial Real Estate (WCRE). MAREJ continued from page 8A A snapshot of an unprecedented industrial market . . . SIOR , senior vice president; Jared Licht, senior associate; and Fred Meyer , EVP corpo - rate services, completed the sale of a 140,000+/- s/f indus- trial building located at 740 Coopertown Rd. in Delanco to buyer Faropoint. The team represented both the seller and buyer in this transaction including the long- term leaseback to the tenant- in-place, Stylex Seating. In a separate transaction, Velocity Venture Partners announced three long-term flex-industrial leases totaling 40,000 s/f at Velocity Business Park in Marlton. NAI Mertz’s team of Jona - than Klear, Andrew John - son & Jason Simkins acted as the sole broker in the sale of this business park to Veloc - ity Venture Partners in the fourth quarter of 2021 and was retained to continue serving as the eleasing broker. The three leases recently completed include: • Lauda-Brinkmann, a mul - tinational temperature control technology firm based out of Germany, leased a 20,000 s/f unit leased for 15 years. The flex unit will be redesigned as a 50/50 split between warehouse and office space. The warehouse portion of the unit will be served
740 Coopertown Rd.
PORT LOGISTICS CENTER AT LOGAN NORTH LOGAN TWP, NJ
FIRST BORDENTOWN LOGISTICS CENTER BORDENTOWN, NJ
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360 STEWART ROAD WILKES-BARRE, PA
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51 HADDONFIELD ROAD CHERRY HILL, NJ
NEW CONSTRUCTION COMING 4QTR 2022 UP TO 225,000 SF AVAILABLE FOR LEASE Easy access to I-295, NJ Turnpike (Exit 3), & PATCO station
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NAI Mertz is seeking experienced real estate professionals looking to advance their careers. As an established leader in Greater Philadelphia / Southern New Jersey with a reach that spans the globe, NAI Mertz has the team and tools in place for you to thrive across all commercial property types and sectors. If you’re ready for your career to be bound only by your drive, contact Bobbi Jean Formosa, COO to request an exploratory virtual meeting: bobbijean.formosa@naimertz.com. READY TO TAKE YOUR CAREER GLOBAL?
+1 800 520 7139 naimertz.com
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