Saturday, February 19, 2011

Sale of the Former Linen-N-Things 259,910 Square Foot Distribution Center in NJ

"Lexington Lion NEBC L.P., an affiliate of Lexington Realty Trust, sold 1109 Commerce Boulevard, LogistiCenter@Logan, Logan Township, Gloucester County, NJ to a joint venture consisting of DP Partners and Great Point Investors LLC.

The building is a 259,910 square foot one-story distribution center located on 25 acres was sold to DP Partners for an undisclosed purchase price.

DP Partners, a member of Dermody Properties, is a privately held, national commercial real estate firm with almost 50 years of experience and 35 million SF of both speculative and build-to-suit development across the country. DP Partners has been recognized as one of 10 largest private commercial property developers in the nation with a reputation for innovation, quality and outstanding service; including their development of LogistiCenter at Logan, a 1,100 acre, Class A master planned business park fronting Center Square Road in Logan Township, Gloucester County, NJ. Upon total buildout, the site will accommodate over 7.4 million SF of industrial, distribution and light-manufacturing space. The proposed facilities have been designed to optimize the distribution supply chain and maximum speed to the market. "

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