The aggregate value of the lease is "in excess of $18 million," according to a Binswanger spokesperson, who calls the deal "one of the largest industrial real estate transactions in Southern New Jersey in recent years."

For NVR Building Products, a subsidiary of NVR Inc., the facility will be the McLean, VA-based company's first in the Garden State – its existing production facilities are located in New York, Pennsylvania, Maryland, South Carolina and Tennessee. One of the country's largest homebuilding and mortgage banking companies, NVR sells and constructs homes under the Ryan Homes, NVHomes and Fox Ridge Homes trade names. Its homebuilding operations serve 18 metro areas in 11 states from New York to Tennessee.

The new facility, which will be used by NVR Building Products to manufacture components for residential construction, is owned and is being built by The Keith Corp. The Charlotte, NC-based real estate firm is itself a relative newcomer to the Garden State.

The deal culminated a two-year site search in the tri-state (New Jersey/Pennsylvania/Delaware) region, according to the Binswanger spokesperson. The project will benefit from a BEIP grant from the New Jersey Economic Development Authority, with that funding tied to the 200 jobs the facility is expected to create. NVR's new location was also facilitated by reduced property taxes that came as a result of a redevelopment zone designation by Delanco Twp.

Headquartered in Philadelphia, Binswanger/CBB is part of Chesterton Blumenauer Binswanger, the worldwide real estate organization.