Firm Closes Three Deals Totaling 490,000 SF

For one, GVA Williams Buschman represented apparel distributor Benetton in the sale of the 223,600-sf Bordentown Interchange Business Park in Bordentown, Burlington County, NJ. The Philadelphia-based Berwind Property Group bought the property, which consists of a 38,600-sf office building and a 185,000-sf office/warehouse building.

The Bordentown site can also accommodate another 200,000 sf of space, according to Tolcash. The purchase price was "in excess of $10 million," or approximately $45 per sf. "The activity in the upper Burlington County market has been very strong and we expect to have the property leased in a short period of time."

Indeed, GVA Williams Buschman kicked of that leasing effort by representing new owner Berwind Property Group in a long-term deal with Prince Sports Inc. The tennis and other racquet sports equipment company, which has its international headquarters in Bordentown, was an existing tenant at the property and consolidated its operations into 106,500 sf. The company's occupancy includes 36,500 sf of office space and a 70,000-sf distribution center, according to Tolcash.

In the third recent transaction, GVA Williams Buschman represented Boston Properties in the sale of the 161,000-sf office/warehouse building at 38 Cabot Blvd. in Bucks County Business Park, Falls Twp., PA. The buyer is the Bridgewater, NJ-based Schenkman & Kushner affiliates, which is adding the asset to a five million-sf portfolio of industrial and office properties.

Located at I-95 and Route 1, S/K's newest asset includes 8,000 sf of office space and is currently divided into two sections of 100,000 and 60,000 sf. The building, which had been occupied by the Case Corp. since it was built in the 1970s, is available for immediate occupancy, and GVA Williams Buschman is handling the leasing assignment for S/K.