Thursday, January 14, 2016

Stag Industrial Purchases 1M SQFT in Burlington Industrial

STAG Industrial Management LLC acquired the industrial building at 1900 River Rd. in Burlington, NJ from UrbanAmerica LP for $61.5 million, or about $59 per square foot.

The 1.05 million-square-foot warehouse was built in 1992 on 108 acres in the Burlington Industrial submarket of Philadelphia. The asset is currently occupied by the GSA with five years remaining on its master lease.

According to CoStar data, this property is one of multiple buildings owned by UrbanAmerica that were placed up for sale during the summer of 2015, a portfolio that exceeds 2.3 million square feet.

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