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Red Toad Buys 183,000-SF South Jersey Industrial Bldg.

PENNSVILLE, NJ-The asset, located on 57 acres, was sold by a manufacturing company that has vacated it. The sale price for the facility, which will be renovated, was just over $1 million.

By Eric Peterson | Updated on August 26, 2002

PENNSVILLE, NJ-Red Toad Investments LLC, a local investment group, has acquired the 182,761-sf industrial facility at 88 Industrial Park Blvd. here. The sale price for the asset, which sits on a 57-acre site, was $1.025 million, which factors out to about $5.60 per sf.

The building was sold by Wheaton USA Inc., a division of Alcan Packaging. Until recently, it had been used by the Decora Division of the Millville, NJ-based Wheaton USA for the manufacture, storage and warehousing of pharmaceutical packaging. Among other things, the building includes a state-of-the-art clean room. The buyer plans to renovate and upgrade the facility as a multi-tenant industrial building.

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