(RealShare New Jersey convenes at the Hyatt Regency, New Brunswick, NJ, September 19.)
BRIDGEPORT, NJ-Hillwood Investment Properties, a Perot company, has acquired a 600,000-square-foot bulk distribution building in southern New Jersey, an area where large blocks of industrial space are relatively few and far between right now. The purchase was made in partnership with Brookfield Asset Management.
Built in 1991, the property at 200 Birch Creek has a flexible warehouse design that can be expanded to accommodate users as large as 770,000 square feet or subdivided for smaller users.
"The shortage of large blocks of available space in the combined southern New Jersey, Pennsylvania, Delaware and Maryland industrial market uniquely positions 200 Birch Creek in the region," says Gary Frederick, the market officer for Hillwood in a statement about the purchase.
The Greater Philadelphia industrial market has shown continued strength this year. Tom Fishman of Hillwood said, “We are eager to increase our presence in the New Jersey and Pennsylvania industrial markets.
The Bridgeport facility offers cross-dock loading with a depth of 460 feet, 25-foot ceiling heights, and 60-foot speed bays. It also has 91 trailer stalls and the potential for future rail access, according to Hillwood.
The property is located in Pureland Industrial Park, less than two miles from Exit 10 of I-295, southern New Jersey’s primary North/South highway, providing access to the entire Northeastern distribution corridor; there are also numerous hotels, restaurants and shopping centers within the immediate vicinity.
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