The buyer of 1 Buckingham Ave. was a local real estate investor, who was not identified. Terms of the transaction, including the sale price, were not disclosed. Recently refurbished, the asset is fully occupied by Vira Manufacturing Co., a maker of floor displays and racks for the retail trade.

"We are experiencing tremendous activity throughout the region," according to Lou Belfer.

As far as the portfolio assignment, the four buildings total 273,000 sf in the South Jersey community of West Deptford. CBRE first vice president Brian Knowles is heading the assignment on behalf of Commercial Ventures LLC, a local group. All of the facilities are immediately available for sale or lease, according to Knowles.

They include 1480 Grandview Ave., a 100,000-sf industrial building with a 7,300-sf office component, situated on a seven-acre lot; and 1273 Imperial Way, a 63,000-sf industrial building with 2,100-sf of office space on just under 5.5 acres. The latter property is zoned for light industrial.

Also part of the package are 1475 Imperial Way, a 60,000-sf industrial/flex facility on 3.2 acres; and 1250 Metropolitan Ave., a 50,000-sf industrial building on five acres. The latter building includes 8,000 sf of built-out office space.

"These buildings offer companies looking for industrial space a New Jersey location near Philadelphia," Knowles explains. "As the industrial market in New Jersey continues to demonstrate increased leasing activity, we expect demand for these facilities to be substantial.

Instant Insights /

CBRE Sells 255,000-SF Bldg., Picks Up Portfolio Assignment

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