MOORESTOWN, NJ-McLean Packaging has acquired the 100,000-sf warehouse facility at 1504 Glen Ave. here from BET Investments. The asset consists of a built-out office component of 20,000 sf and 80,000 sf of warehouse space.
The deal was brokered for the Huntingdon Valley, PA-based BET by Marc Isdaner of Colliers L&A of Philadelphia. The sale price was not released. The building was formerly fully occupied by automaker Subaru, which had been leasing it from BET. Prior to the sale, BET had the building listed for rent on its website with an asking price of $4.25 per sf, triple-net. Located on a 9.5-acre site, the facility is also expandable on a contiguous three-acre piece of ground.
The new owner, which will use the site for W/D purposes, makes corrugated displays, containers and laminated boxes. McLean Packaging consists of three operating divisions with separate headquarters in Pennsauken, NJ and Philadelphia and Nazareth, PA.
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