(Read more on the industrial market.)

MT. LAUREL, NJ-Making its first investment deal in the Delaware Valley region, Exeter Property Group has acquired the 70,000-sf W/D facility at 804 East Gate Dr. within the East Gate Corporate Center here. The sale price of $3.7 million factors out to approximately $53 per sf.

The deal was arranged by Richard F. Smith Jr., a principal of Avir Realty Group, Ft. Washington, PA. Smith represented seller Five Point Plaza Associates, a locally based private real estate investment partnership.

The building, situated on a 6.8-acre site, has been occupied on a long-term basis by Interline Brands, a Jacksonville, FL-based direct marketer and distributor of maintenance, repair and operations products, including plumbing, electrical, hardware, HVAC and related supplies. The company uses the location to serve customers in the tri-state region of New Jersey, Pennsylvania and Delaware.

The new owner of the building is a $300-million industrial value-add real estate private equity fund based in Plymouth Meeting, PA. The group focuses on big-box warehouse, multi-tenant industrial and flex properties in the eastern and mid-south regions of the country.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.