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New Fund Dips Into $300M Industrial Purse

PLYMOUTH MEETING, PA-Exeter Properties Group fund kicks off with the acquisition of fully leased warehouse properties in Langhorne and Mt. Laurel, NJ.

By Marita Thomas | Updated on July 10, 2007

(Read more on the industrial market.)

PLYMOUTH MEETING, PA-Exeter Properties Group, a new private equity fund based here, has acquired two warehouse properties for an aggregate of $7.1 million. One is a 41,000-sf building at 2150 Cabot Blvd. in the Bucks County Business Park in Langhorne, and the other is a 70,000-sf facility at 804 E. Gate Dr. in the East Gate Corporate Center in Mt. Laurel, NJ.

Both properties are 100% leased. Exeter paid $3.4 million, or $82.93 per sf, for the Langhorne property. The tenants are Hydnogel Design Systems and American Trans Freight. The seller, identified as 2150 Cabot Ltd. Liability Corp., is a private real estate investment entity, according to Richard Smith, principal of Fort Washington-based Avir Realty Group Inc.

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