Friday, August 28, 2015

$35 Million in Recent NJ and PA Industrial Sales

by Steve Lubetkin,
Three sales with a total aggregate value of more than $35 million were recently completed .  Two transactions were industrial properties in King of Prussia, PA, and Holmdel, NJ, and the third sale was a land deal in Hamilton, NJ.

“Industrial investment is strong throughout New Jersey and Eastern Pennsylvania with institutional owners leveraging portfolios to attract buyers with discretionary capital that are either looking to enter a new market or expand an existing presence."

Holmdel Realty Development purchased a 540,000 square foot facility at 2182 Route 35 South in Holmdel, NJ, for approximately $24.5 million from Croddick Real Estate.

In Hamilton, NJ, Matrix Development Group, and an institutional owner, bought of 35 acres of land for redevelopment at 530-584 Route130.

The investment sale of a 77,000 square foot facility in King of Prussia, PA was negotiated, on behalf of an institutional owner. Audubon Land Development Corporation purchased the property for approximately $4.9 million, expanding and diversifying the company’s industrial portfolio in the suburban Philadelphia market.

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