S hopping C enters N ew J ersey /P ennsylvania
M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B
www.marej.com
Guittare and Nemark’s Montagano arrange transaction totaling $22.5M Provender acquires second temp. controlled food related facility in Philadelphia Metro
INELAND, NJ — Provender Part- ners has acquired from Safeway Fresh Foods, a 217,540 s/f temperature controlled food production and distribution facility in Vineland for $22.5 million. Safeway, an agriculture and food manufacturing com- pany, which provides fresh and prepared foods for re- tailers throughout the Mid- Atlantic states through its fresh food division Sunnyside Farms, will continue to oc- cupy 100% of the building for V
September of last year with the acquisition of a 255,000 s/f building in Delanco, NJ. That building serves as the refrigerated and frozen food distribution facility for national e-commerce food company Misfits Market. “Understanding their in- vestment strategy and the makeup of this offering, we believed that Provender would be a suitable partner for our client and chose to take the opportunity directly to them,” said Ryan Guit- tare , who arranged the trans- action alongside Newmark senior managing director Kurt Montagano . The Newmark Capital Markets team has closed on nearly 1 million s/fof cold storage space over the last year+ in the greater Philadelphia marketplace including both deals with Provender. MAREJ
and distribution facility in the supply chain that serves one of the most densely populated regions in the country,” said Provender COO John Long, Jr. “With access to both major regional rail and trucking lines, the asset is well positioned to provide same or next day de- livery for retailers serving a population of approximately 57 million who live within a 250 mile radius. The asset perfectly aligns with our business objec- tives to build a significant food related industrial portfolio in the region.” Vineland is the second major acquisition for Prov- ender in the Greater Phila- delphia metro in the last 12 months. Provender, which has invested in more than 6.5 million s/f of food-re- lated industrial buildings across the country since its founding in 2014, entered the Philadelphia market in
215 North Mill Rd.
SEPT. 23 - OCT. 20, 2022
the next five years under the sale/leaseback transaction. Located at 215 N. Mill, the mid 1990’s vintage building with 64% freezer and cooler space, is Safe Quality Food (SQF), USDA and Organic Certified. The building fea -
tures 28’ foot clear heights and 23 dock-high doors. Situ - ated on an 18-acre site, the 27% coverage offers ample trailer parking and potential for expansion. “This is a highly functional, mission critical food production
HI-LIGHTS
SPOTLIGHTS NORTHERN NJ 5-7B Cushman & Wakefield arranges sale of Port Newark Light Industrial Park
Zimmel Associates negotiates $18 Million sale of industrial building in Bethlehem, PA
BETHLEHEM, PA — Da- vid Zimmel , president of Zim- mel Associate s, announced
the sale of 600 Brighton St. in Beth- lehem. The 235,000 s/f, one-story industrial building, which in- cludes three
David Zimmel
units, is located in the desir- able Fountain Hill neighbor- hood, sitting on 14.48 acres. Two units are currently be- ing leased by Yellow Supply and Xpress Global Systems. Yellow Supply occupies 78,980 s/f, selling a wide range of HVAC, plumbing, and elec - trical components to dealers and commercial accounts. Xpress Global Systems oc- cupies 64,000 s/f providing nationwide transportation of floor coverings. The 92,020 s/f remaining unit became available, which
5B
600 Brighton St.
of 200,000 s/f in the past, to pursue the purchase. “For the last two years, I searched for a building in New Jersey, but the market was so tight and inventory was very thin,” said David Zimmel. “I expanded my search into Pennsylvania and located an ideal warehouse space for my client, MT Brunel LLC.” 600 Brighton Street was
purchased by MT Brunel LLC for $18 million. The textile company adds this building to their showroom and corpo- rate office in Manhattan and 200,000 s/f warehouse in Edi- son, NJ. One of the highlights of this building is that it offers the flexibility of future expan - sion, along with rail service and a very strong labor pool in Bethlehem. MAREJ
features a 24 foot ceiling height, 12 loading docks, and a great location - directly off Rte. 78, the Bethlehem exit. In addition, the building, which was originally purchased as an investment by Brighton Industrial LLC, went on the market - opening the door for David Zimmel and his long- time client, MT Brunel LLC, who leased other buildings
PENNSYLVANIA
11-15B
ALSO INSIDE
www.marej.com CREW NJ......................... 10B People on the Move....... 16B
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