Michelle Caffrey Reporter Philadelphia Business Journal
A 117-acre industrial site in South Jersey has sold for $110.5 million, paving the way for the construction of two speculative Class A distribution buildings.
A joint venture between Clarion Partners and Baltimore-based MRP Industrial bought the expansive property at 1900 River Road in Burlington Township from Boston-based Stag Industrial, which paid $61.5 million for the site in 2015.
A vacant 1-million-square-foot warehouse building formerly occupied by the U.S. General Services Administration currently sits on the property and will be decommissioned and demolished.
Full story: https://tinyurl.com/y5bnab62
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