17 Quakerbridge Plaza Drive, Hamilton, NJ 17 Quakerbridge Plaza Drive, Hamilton, NJ

HAMILTON, NJ—Black Creek Group is acquiring 17 Quakerbridge Plaza Drive, a fully leased, 76,220-square-foot industrial warehouse and distribution facility in Hamilton, NJ, from Matrix Development Group for $8.5 million.

Holliday Fenoglio Fowler marketed the property on behalf of the seller. The HFF team included senior managing director José Cruz, directors Marc Duval, Jordan Avanzato and Mark Mahasky, as well as senior managing director Kevin O'Hearn and senior directors Steve Simonelli and Michael Oliver.

“Investor demand is outpacing supply and assets available for sale, thus continuing to drive pricing in this submarket,” says Cruz.

“The acquisition of this recently developed, class A building is an excellent opportunity for Black Creek Group to continue to expand our presence in the strong [Exit] 7A industrial submarket.  We have not only seen healthy tenant demand in the market but continue to see the area evolve as a major industrial corridor,” says Dave Fazekas, senior managing director for the eastern region of Black Creek Group.

Situated on 13.56 acres in the 7A Industrial submarket, 17 Quakerbridge Plaza Drive is located immediately off Exit 65A of Interstate 295, approximately 8.5 miles from Interstate 95 (New Jersey Turnpike), giving easy access to the new Pennsylvania Turnpike/Interstate 95 Interchange, a $400-million infrastructure project that will connect two of the busiest highways in the United States, further enhancing the submarket's accessibility to the larger region and entire East Coast.  Completed in 2017, 17 Quakerbridge Plaza Drive is fully leased to two tenants.  The property features three dock-high doors expandable to 19, one drive-in door and 30-foot clear height.

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].