Search
 

$5M Takes 99,000-SF Industrial

THOROFARE, NJ - NL Ventures has sold its 1450 Grandview Ave. just as its full-building tenancy has changed.

By Eric Peterson | Updated on July 30, 2008

THOROFARE, NJ – The 98,608-sf industrial building at 1450 Grandview Ave. here has been sold for $5 million, a price that factors out to just less than $51 per sf. The building is within the 645-acre, multi-owner Mid-Atlantic Industrial Park in this Gloucester County community.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.