Massachusetts Firm Buys Industrial Portfolio in South Jersey

High Street Logistics Properties has purchased a three-building industrial portfolio totaling 402,000 square feet in South Jersey.

The buyer, based in Woburn, Massachusetts,acquired 300 Richards Run in Burlington, 1090 Thomas Busch Memorial Highway in Pennsauken, and 823 E. Gate Drive in Mount Laurel. The portfolio was 100% occupied at the time of sale.

The seller was Whitesell Construction Co. of Mount Laurel, New Jersey, according to CoStar data. Terms of the transaction weren’t disclosed. 

The building on Richards Run is 85,390 square feet and fully leased by Barton & Cooney. It has 22-foot clear ceiling heights and provides several options for expansion.

The Thomas Busch Memorial Highway property is the largest of the three, at 168,737 square feet, and could also be expanded. The tenant, SupplyOne, has made a significant investment in its space, including installing heavy production and manufacturing equipment. The facility on Gate Drive, which is 147,700 square feet, is occupied by six tenants. It features an exclusive outdoor storage space, ample car and truck parking, and a 100-foot truck court.

*Article courtesy of CoStar

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