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SOUTH BRUNSWICK, NJ-BPG Properties, the Philadelphia-based real estate investment manager for Berwind Property Group and others, has sold 51 Commerce Dr., a 269,000-sf warehouse and distribution building here. The buyer was WEA Enterprises Co. Inc., a New York City-based group. The one-story asset, which includes 10,000 sf of office space, is situated within the New Jersey Turnpike Exit 8A industrial market.

The deal was brokered for BPG by Dan Frankel of Newmark Knight Frank, while WEA was represented by Mike Evans of SBWE Inc., Hasbrouck Heights. Terms of the sale, including the sale price, were not released.

BPG bought the property in mid-2004 on behalf of its BPG Investment Partnership VI LP, a private equity fund with commitments of $384 million. At the time of the acquisition, the building was 58% leased, and in the ensuing two years BPG renewed and expanded anchor tenant Market Resource Packaging for a total of 222,000 sf. Hermann Warehouse Corp. subsequently signed on for the remaining 47,000 sf, bringing the building to full occupancy.

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