The seller was NL Ventures; the buyer of the asset was not identified. The deal was arranged by Marc Isdaner and Larry Bergen, both directors and SVPs at Colliers Lanard & Axilbund of Philadelphia. The acquisition was concluded with financing provided by M&T Bank, along with assistance from the New Jersey Economic Development Authority.

The sale comes just as the asset's full-building occupancy has changed. Toppers Inc., a supplier of promotional products and business accessories, moved out in May, relocating to parent company Corvest's new 300,000-sf office and distribution facility in Largo, FL.

But the space has already been grabbed up by McGrory Glass Inc., a flat-glass fabricator and consultant to the architectural glass industry. For McGrory, the deal marks a relocation of its operations across the Delaware River from Aston, in PA's Delaware County. Terms of McGrory's deal were not disclosed; comparable industrial space in the market generally commands rents in the $5-per-sf range.