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First Industrial Buys 139,000-SF Asset

PENNSAUKEN, NJ-The REIT now owns the headquarters and main warehouse of discount clothier Forman Mills, its third South Jersey buy so far this year.

By Eric Peterson | Updated on April 13, 2007

(Read more on the industrial market.)

PENNSAUKEN, NJ-First Industrial Realty Trust has picked up another South Jersey building, its third in the market so far this year, buying the 139,000-sf building at 1070 Thomas Busch Memorial Hwy. Located within the multi-owner Pennsauken Industrial Park, the building serves as the headquarters and main warehouse for discount clothier Forman Mills, which has a total of 23 retail outlets in five states.

With the sale, the building leaves the portfolio of Penn American Real Estate Co. (Parec Properties), based in Blue Bell, PA. The sale price was not released.

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