CBRE Arranges Seven-Asset Industrial Portfolio Sale
The disposition of the 553,548-square-foot, Southern New Jersey infill portfolio was arranged on behalf of the seller, Foxfield Industrial.
MOUNT LAUREL, NJ – CBRE has arranged the sale of the seven-building, Southern New Jersey infill portfolio, on behalf of the seller, Foxfield Industrial.
The portfolio totals 553,548 square feet and is currently 88.7% leased to various warehouse and distribution tenants, including Food Sciences Inc., Carnegie Pharmaceuticals LLC and The Jewelry Group Inc.
The seven-asset portfolio consists of 600 and 601 Delran Parkway in Delran, New Jersey, 820 East Gate Drive and 116 Gaither Drive in Mouth Laurel, New Jersey, and 603 Heron Drive, 614 Heron Drive and 1 Killdeer Court in Swedesboro, New Jersey.
Each property within the portfolio is located within 1.5 miles of Interstate 295, the New Jersey Turnpike or US Route 130.
CBRE National Partners’ Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki spearheaded the portfolio’s marketing campaign and negotiatied the sale, on behalf of Foxfield Industrial.
Foxfield Industrial is a joint-venture between Novaya Real Estate Ventures and Foxfield Ventures. The real estate operating company specializes in acquiring and operating industrial properties throughout the Mid-Atlantic and the Southeast US.
CBRE Group Inc., headquartered in Los Angeles, is a commercial real estate services and investment firm. The Fortune 500 and S&P 500 company currently employs more than 100,000 employees throughout more than 530 offices worldwide.