By Taylor Collins CoStar Research
A warehouse built last year in in Lumberton, New Jersey, that has since remained vacant recently sold for $34.3 million to Dalfen Industrial, according to a report published on the company's website.
The Lumberton Logistics Center at 1800 NJ-38 is 219,123 square feet and features 40-foot ceilings, two drive-ins and 36 dock doors. The property also has 115 parking spaces.
Active Acquisitions developed the site starting in August 2022, wrapping up construction the next year. Pangea Mortgage Capital, which served as Active Acquisitions’ lender, took ownership of the property through a related entity in April 2024. Then Pangea sold the property to Dalfen Industrial on Dec. 19.
Dalfen's off-market purchase is part of the company's approach to buying "last-mile buildings in high barrier-to-entry population centers,” Keith Hontz, the firm's northeast market officer, told the Business Journal.
Based in Dallas, Texas, Dalfen operates out of 11 North American offices and has a portfolio exceeding 55 million square feet. The firm currently owns and operates nearly 4 million square feet across 14 properties in the Northeast.
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