Three of the buildings are located in the NJ Turnpike Exit 7A submarket, specifically in the Hamilton and Washington business centers. Hot Foil, a stamping concern, bought the 15,000-sf building at 109 North Gold Dr. in Washington Twp.; and two separate private investment groups bought the 10,000-sf 3 South Gold Dr. and the 13,200-sf 3 Marlen Dr. in Hamilton.
The fourth transaction came at the Turnpike's Exit 6A in Florence, NJ, where GJP Enterprises bought a 24,000-sf building."The market for small office/warehouse/flex product is extremely tight, and coupled with the interest rate climate, users have been able to pay extremely attractive prices to sellers," Tolcash says. "Each of these buildings sold for between $50 and $68 per sf, and if we had more similar buildings for sale, they would go just as quickly."
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