Friday, February 6, 2015

Stag Pays $34.4M for Fully Leased Bldg in NJ

STAG Industrial Management LLC has acquired the industrial building at 6 Campus Dr. in Burlington, NJ from Generation Brands LLC for $34.4 million, or about $68 per square foot.

The 503,490-square-foot facility sits on 21 acres in the Burlington Industrial submarket of Philadelphia. Built in 2005, it features abundant loading, 32-foot clear heights, and column spacing at 60x40 feet.

The asset was fully occupied at the time of sale by Sea Gull Lighting, with more than eight years remaining on its lease.

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