Thursday, August 27, 2020

Canadian Joint Venture Pays $39 Million for South Jersey Industrial Site

 By Rachel Whaley CoStar Research

Toronto-based WPT Industrial Real Estate Investment Trust and Investment Management Corporation of Ontario purchased an industrial land parcel in Mansfield, New Jersey, for $39 million.

The 61-acre site is located off Route 206 and is about two miles from the New Jersey Turnpike and Interstate 295.

The joint venture plans to develop about 772,000 square feet of modern distribution and logistics space at the site. A timeline for the development project has not yet been disclosed.

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