The seller was AMB Property Corp., the San Francisco-based industrial development firm, which currently has a portfolio of more than 109 million sf nationally. The purchase price was not disclosed, but industry sources say the building likely traded for a number in the $8-million range.
The transaction was arranged for AMB by Binswanger/Klatskin, based in Teterboro. The firm's David Ginsberg, senior vice president, and associate Daniel Whitehead did the deal. Further terms of the sale were not disclosed.
400 Corporate Dr. is within AMB's Mahwah Corporate Center, a complex that totals more than 358,000 sf, spread among four buildings. Campmor's new distribution center is situated on an 11-acre site, and features nearly 12,000 sf of built-out office space. The building has 22-foot clear ceiling heights, a dozen loading docks and 150 parking spaces.
Campmor has just one retail store location, on Route 17 in Paramus. Most of the company's range of outdoor gear is sold through its catalog as well as its website, with distribution handled through the local facility. Its products range from mountaineering equipment to water sports and bicycling gear.
AMB's portfolio includes more than 1,100 buildings in 38 markets in eight countries. The company invests primarily in the infill submarkets of its targeted markets.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
