Black Creek Group Acquiring Hamilton, NJ, Industrial from Matrix for $9M
“Investor demand is outpacing supply and assets available for sale, thus continuing to drive pricing in this submarket,” says HFF's José Cruz.
HAMILTON, NJ—Black Creek Group is acquiring 17 Quakerbridge Plaza Drive, a fully leased, 76,220-square-foot industrial warehouse and distribution facility in Hamilton, NJ, from Matrix Development Group for $8.5 million.
Holliday Fenoglio Fowler marketed the property on behalf of the seller. The HFF team included senior managing director José Cruz, directors Marc Duval, Jordan Avanzato and Mark Mahasky, as well as senior managing director Kevin O’Hearn and senior directors Steve Simonelli and Michael Oliver.
“Investor demand is outpacing supply and assets available for sale, thus continuing to drive pricing in this submarket,” says Cruz.
“The acquisition of this recently developed, class A building is an excellent opportunity for Black Creek Group to continue to expand our presence in the strong [Exit] 7A industrial submarket. We have not only seen healthy tenant demand in the market but continue to see the area evolve as a major industrial corridor,” says Dave Fazekas, senior managing director for the eastern region of Black Creek Group.
Situated on 13.56 acres in the 7A Industrial submarket, 17 Quakerbridge Plaza Drive is located immediately off Exit 65A of Interstate 295, approximately 8.5 miles from Interstate 95 (New Jersey Turnpike), giving easy access to the new Pennsylvania Turnpike/Interstate 95 Interchange, a $400-million infrastructure project that will connect two of the busiest highways in the United States, further enhancing the submarket’s accessibility to the larger region and entire East Coast. Completed in 2017, 17 Quakerbridge Plaza Drive is fully leased to two tenants. The property features three dock-high doors expandable to 19, one drive-in door and 30-foot clear height.