Lend Lease Buys 217,047-SF Warehouse

LOGAN TWP., NJ-Industrial properties have become hot in a tight marketplace, especially in the warehousing/distribution sector. This buy brings the Lend Lease portfolio value to $41 billion.

By Eric Peterson | Updated on December 08, 2000

LOGAN TWP., NJ-Lend Lease Real Estate Investments of New York has added the 217,047-sf warehouse/distribution facility at 244 High Hill Rd. in Pureland Industrial Park here, to its portfolio. That portfolio now has a value of $41 billion worth of real estate and commercial mortgages.

Lend Lease bought the building on behalf of a pension fund for an undisclosed amount. The seller was an institutional advisor based in Parsippany, NJ. Cushman & Wakefield of PA represented the seller in the transaction.

The property is located in Southern NJ, about 20 miles south of Camden. The building is 100% leased to John Sexton & Co., a food-distribution company that is currently being merged with US Food Service of Columbia, MD. Sexton has a long-term commitment to the building.

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