By Ryan Cashion
A vacant industrial building in Pennsauken, New Jersey, has a new owner with plans to complete significant renovations and reposition the property at 8290 National Highway.
GID, a Boston-based real estate investment and management firm that invests in real estate on behalf of its institutional investor clients, purchased the 111,400-square-foot facility for $14.75 million, or about $132.41 per square foot.
Located just outside Philadelphia in Camden County, New Jersey, the building is close to I-95 and I-295. According to the buyer, the building can accommodate one or two tenants and features 20-foot clear heights, one drive-in door, and 15 dock-high doors.
GID has been active in the industrial sector since 1986 and targets light industrial warehouses in U.S. markets with high population densities and consumer purchasing power.
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