(To read more on the industrial market, click here.)
VINELAND-Two industrial transactions in South Jersey have a single broker behind them. Eustace Wolfington, senior vice president of Grubb & Ellis' Philadelphia branch, negotiated both a 110,000-sf building sale here in Vineland, and a lease of 83,000-sf in Swedesboro.
South Jersey Cold Storage Inc. acquired the 110,000-sf facility at 2192 N. West Blvd. in Vineland. The importer/exporter is expanding its operations and plans to use the building as a warehouse and distribution facility. The building, on more than 47 acres of land, features a 32-ft clear height and freezing capacity to 20 degrees below zero. The seller and price were undisclosed.
"With ample clear heights and abundant cold storage capability, this building was one of the few in the market that met South Jersey Cold Storage's requirements,' Wolfington says.
In Swedesboro, Rehrig Penn Logistics, a subsidiary of Rehrig Pacific, will eventually move into 83,000 sf of space at 1130 Commerce Dr. The logistics firm will initially take 52,000 sf, and then an additional 31,000 sf over the term of the lease. David Ricci of the Flynn Co. represented the landlord, SDCO 1130 Commerce Inc.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
