Wednesday, December 8, 2010

Two Major Industrial Sales in New Jersey and Georgia Buck National Trends

"Reno, NV-based Dermody Properties and DP Partners announced the sale of two industrial buildings from its national portfolio. A 599,500-square-foot building in Logan Township, NJ sold for $35.5 million ($59 psf), and a 689,400-square-foot building in Savanna, GA sold for $20.6 million ($30 psf).

The building in Logan, NJ, located at 1150 Commerce Blvd. in the LogistiCenter at Logan, sold to a financial institution at a 7.39-percent CAP rate. The class A property was built in 2008 by DP, and was immediately occupied by Kimberly-Clark, a major producer of consumer health and hygiene products including Kleenex and Huggies."

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.