A California real estate investment firm has made a major acquisition in South Jersey. Oakland-based Berkeley Partners purchased a 275,000-square-foot industrial warehouse at 500 University Court in Blackwood for $36.2 million, according to public records. The seller was an entity tied to New York-based investment firm TPG Angelo Gordon.

The deal equates to roughly $131 per square foot. The property is currently leased to Mochila Fulfillment, a third-party logistics provider, and Kärcher, a global supplier of municipal street and sidewalk sweeping equipment.

Originally built in 1996 and renovated in 2013, the warehouse is strategically located just off Route 42 and within eight miles of Interstate 276, offering strong connectivity for distribution and service operations.

Berkeley Partners, which specializes in light industrial assets such as last-mile warehouses, small-bay business parks, and light manufacturing properties, has steadily grown its footprint in the Philadelphia region. The firm now owns nine properties totaling 619,000 square feet locally, while its national portfolio spans 106 properties across 14 markets, encompassing more than 11 million square feet.

*Article courtesy of Philadelphia Business Journal

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