DH Property Holdings and DRA Advisors have acquired a 273,000-square-foot Class B industrial facility in Delanco, New Jersey, for $30.5 million, reflecting strong tenant interest in this type of asset, according to the New York-based investors.

At the time the property at 800 Coopertown Road went under contract, DH Property Holdings founder Dov Hertz anticipated the building would be entirely vacant. However, the seller—tile importer Soho Studio Corp.—ultimately decided to retain a portion of the space, while another tenant signed a lease for approximately 173,000 square feet.

*Article courtesy of Philadelphia Business Journal

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