CBRE Facilitates $19.25 Million Sale of 171,500 SF Industrial Portfolio in South Jersey

CBRE announced today it has arranged the sale of a 171,500 sq. ft. industrial portfolio in South Jersey. The two 100% occupied single tenant industrial buildings are located at 400 Benigno Boulevard and 101 Haag Avenue within the Interstate Business Park in Bellmawr, New Jersey. Both properties were acquired by Ivy Realty for $19.25 million.

The CBRE Capital Markets team of Stephen Marzullo and Adam Silverman, in partnership with CBRE’s Dan McGovern, negotiated the sale on behalf of the seller.

400 Benigno Boulevard is a 78,000 sq. ft. corporate headquarters, production and distribution building situated on a 5-acre parcel. The building features nine tailgate-height loading docks, two drive-in doors, ceiling heights up to 28 feet and 810 rooftop solar modules for a total DC capacity of 279 kilowatts.

101 Haag Avenue is a 93,500 sq. ft. corporate headquarters, production and distribution building situated on an over-sized 13.78-acre parcel. The building features five tailgate-height loading docks, two drive-in doors, ceiling heights up to 22 feet and solar modules installed both on the rooftop and ground-mounted for a total DC capacity approaching 1 megawatt.

Both properties are located within Interstate Business Park, a 2.85 million sq. ft. multi-use park comprised of 40 office, distribution and warehouse buildings. The 250-acre site benefits from its exceptional access to major highways. It is bordered to the south by the New Jersey Turnpike, to the west by Route 42, and I-295 is less than a mile to the north. Moreover, Center City Philadelphia is only six miles to the northwest and the park is situated only 15 minutes from Philadelphia International Airport.

Other noteworthy corporate neighbors in the park include USPS, International Paper, Airgas, Comcast and J&J Snack Foods, among others.