Velocity Venture Partners adds to its South Jersey holdings with $14.25M purchase

Velocity Venture Partners has paid $14.25 million for Stow Road Corporate Park in Marlton, growing its South Jersey presence to nearly 2 million square feet. 

The property comprises five, single-story flex buildings totaling 160,000 square feet at 8, 9, 10, 12 and 14 Stow Road. Ellington Management Group was the seller. Jonathan Klear and Fred Meyer of NAI Mertz arranged the transaction. Velocity had looked at the Stow Road complex during the summer of 2020 as an off-market acquisition but a deal couldn’t be worked out until now. 

Velocity plans to invest between $2 million and $3 million in upgrades to the buildings and rebrand it as Velocity Business Park. The addition of 20 extra loading areas, evenly splitting the space between office and flex, and replacing the roofs are among the improvements that will be made. 

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Sale in Penns Grove

18 Virginia Ave Penns Grove NJ

Wolf Commercial Real Estate, the foremost South Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, is now offering South Jersey industrial space for sale in Penns Grove NJ.

This industrial space for sale in South Jersey is a +/- .95-acre parcel on 18 North Virginia Avenue Penns Grove NJ. This industrial space for sale in Penns Grove was built in 1970.

The asking sale price for this industrial space for sale in South Jersey on 18 North Virginia Avenue Penns Grove NJ is $800,000. This South Jersey industrial space for sale is available through Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm with expertise in South Jersey commercial real estate listings and services.

This industrial space for sale in South Jersey on 18 North Virginia Avenue Penns Grove NJ is a +/- 25,000 sf fully refrigerated building and there also is a +/- 1,200 sf office area at this industrial space for sale in Penns Grove.

There are ceiling heights of between 10 feet and 20 feet at this industrial space for sale in Penns Grove and there are several roof-mounted cooling units at this South Jersey industrial space for sale on 18 North Virginia Avenue Penns Grove NJ.

This industrial space for sale in South Jersey on 18 North Virginia Avenue Penns Grove NJ has three-phase power and, coincidentally, there are three tailgate loading docks with seals at this South Jersey industrial space for sale.

Nearly 60,000 residents live within five miles of this industrial space for sale in Penns Grove.  The average household income in the same radius of this industrial space for sale in South Jersey is $65,004.

For more information about this South Jersey industrial space for sale on 18 North Virginia Avenue Penns Grove NJ or about any other South Jersey commercial properties for sale or lease, please contact Phil Costa (609-680-4942; phil.costa@wolfcre.com) or Ryan Barikian (856-857-6307; ryan.barikian@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, industrial space properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for sale or lease through our South Jersey commercial real estate brokerage firm.

Dermody Properties Breaks Ground on 154-Acre Logistics Park in South Jersey

Dermody Properties has broke ground on a 154-acre logistics park in South Jersey, a region where industrial space remains in high demand.

The three-building, 1.2 million square-foot logistics park, called LogistiCenter at Woolwich, is located at the intersection of Route 322 and Locke Avenue in Woolwich Township in Gloucester County. Dermody plans to make significant improvements to the intersection in conjunction with the development of the park.

LogistiCenter at Woolwich includes a 262,200-square-foot facility at 2062 U.S. Route 322, a 552,585-square-foot facility at 2120 U.S. Route 322and a 336,700-square-foot building at 2057 U.S. Route 322. Each building is set to feature a 36- to 40-foot clear height, build-to-suit office space, ESFR fire protection systems, 50 to 110 dock-high doors, drive-in doors and ample trailer and car parking. 

The logistics park is less than 2 miles from Interstate 295 and less than 3 miles from Interstate 95. Because of its proximity to Philadelphia and Wilmington, the park’s direct highway will give tenants the ability to reach 33% of the U.S. population in a single day’s drive and 3 million people within a 40-minute drive, Dermody said in a press release announcing the start of construction. 

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

$265M sale of Target-leased distribution center in South Jersey sets new record for price per square foot

A 1.1-million-square-foot warehouse distribution center leased to Target Corp. in Logan, New Jersey, has traded for $265 million.

Torchlight Investors of New York bought the newly developed building at 300 Creekview Ave. and a nearby lot at 400 Crossroads Blvd. The sale came in at $240 a square foot and 2.98% cap rate, according to sources.  The sale price on a per square foot basis supplants a high water mark set over the summer when Watson Land Co. paid $107.74 million, or $201 a square foot, for a pair of industrial buildings in South Jersey. Watson bought a 283,040-square-foot building at 100 Huff Lane, and a 252,750-square-foot building at 191 Harmony Road, in East Greenwich.

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Sale on Wade Boulevard in Millville

326 S. Wade Millville, NJ

Wolf Commercial Real Estate, a premier South Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services, is now offering South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ.

This South Jersey industrial space for sale sits on five acres of land and this South Jersey industrial space for sale has 34,000 sf of industrial space in South Jersey.

The asking sale price for this industrial space in South Jersey is $2,040,000. This South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ is being offered by Wolf Commercial Real Estate, a South Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services.

This South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ also has 1,500 of office space. This South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ has four dock-height loading doors and there also are two 14-feet by 14-feet drive-in doors at this industrial space in South Jersey.

The ceiling heights at this South Jersey industrial space for sale are from 16 feet to 40 feet at this South Jersey industrial space for sale. This South Jersey industrial space for sale is in the Mike Lascarides Industrial Park and this South Jersey industrial space for sale is zoned “Z-1” for general industries such as warehousing and manufacturing.

This South Jersey industrial space for sale is located within a half-mile of Route 55 and there is easy access to both Route 47 and Route 49 from this industrial space in South Jersey. Purchasers of this South Jersey industrial space for sale will find it is close to banks, restaurants, and retailers.

Nearly 40,000 people reside within a five-mile radius of this industrial space in South Jersey at 326 South Wade Boulevard Millville NJ.  The average household income in the same area near this Southern New Jersey industrial space for sale is $65,131.

For more information about this South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ or about any other South Jersey commercial properties for sale, please contact Ryan Barikian (856-857-6307; ryan.barikian@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors, and sellers. Please visit our websites for a full listing of South Jersey commercial properties for sale or lease through our South Jersey commercial real estate brokerage firm.

Bed Bath & Beyond to lay off 124 employees in South Jersey as it shifts distribution to Pa.

Bed Bath & Beyond Inc., a retailer that sells home goods, is vacating a 350,000-square-foot warehouse it operates in South Jersey and laying off 124 employees. 

The company, which announced at the beginning of this year that it would shutter 43 stores across its chain, plans to close those South Jersey warehouse operations at 270 Daniels Road in Burlington by Oct. 29, according to a Worker Adjustment and Retraining Notification filed with the New Jersey Department of Labor. Prologis Inc. is the landlord and has plans to double the size of the building. 

The South Jersey closure is part of an overall realignment of Bed Bath & Beyond’s distribution operations. The company said in July that it plans to occupy a 1-million-square-foot distribution center in Pennsylvania as part of a $250 million effort to modernize its supply chain.

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Sale in Millville

326 S. Wade Millville, NJ

Wolf Commercial Real Estate, a leading South Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services, is now offering South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ.

This South Jersey industrial building for sale at 326 South Wade Boulevard Millville NJ contains 34,000 sf of South Jersey industrial space. There is 1,500 sf of office space over two floors at this industrial space for sale in South Jersey.

The asking sale price for this industrial space in South Jersey is $2,040,000. This South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ is being offered by Wolf Commercial Real Estate, a South Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services.

This South Jersey industrial building for sale at 326 South Wade Boulevard Millville NJ sits on five acres of South Jersey industrial space for sale. Interested potential owners will find this industrial space in South Jersey for sale in the Mike Lascarides Industrial Park

With two 14-foot-by-14-foot drive-in doors, this South Jersey industrial building for sale also has four dock-height doors. The ceiling heights at this South Jersey industrial building for sale at 326 South Wade Boulevard Millville NJ range from 16 feet to 40 feet. In addition, this South Jersey industrial space for sale is zoned I-1, a general-industry designation that means all types of warehousing and manufacturing are permitted in this industrial space in South Jersey for sale.

More than 39,000 people reside within a five-mile radius of this industrial space in South Jersey at 326 South Wade Boulevard Millville NJ.  The average household income in the same area near this Southern New Jersey industrial space for sale is $63,246. This industrial space in South Jersey, which is close to banks, restaurants, and retailers, is available through Wolf Commercial Real Estate, a South Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services.

This South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ is within half a mile of Route 55 and, as a benefit to purchasers, this South Jersey industrial space for sale additionally offers easy access to both Route 47 and Route 49.

For more information about this South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ or about any other South Jersey commercial properties for sale, please contact Ryan Barikian (856-857-6307; ryan.barikian@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for sale or lease through our South Jersey commercial real estate brokerage firm.

South Jersey industrial buildings built on speculation sell for $108M, set record for price per square foot

A California real estate company has paid $107.74 million, or $201 a square foot, for a pair of industrial buildings in South Jersey. 

Watson Land Co. bought a 283,040-square-foot building at 100 Huff Lane, and a 252,750-square-foot building at 191 Harmony Road, enters South Jersey with the purchase, and expands its East Coast presence. The company, which focuses on buying and developing industrial real estate, owns properties in the Lehigh Valley.  The sale of the Cubes at Huff Lane and the Cubes at Harmony Road in East Greenwich sets a new high watermark on a per-square-foot basis for traditional a warehouse in South Jersey. 

The seller was CRG, the real estate development and investment arm of Chicago-based Clayco.

The transaction embodies all of the aspects of the industrial market these days, particularly in South Jersey. 

Banking on continued robust demand, CRG developed the two buildings in 2020 on speculation, or without any tenants lined up to fill the space. The location of the two buildings had all of the elements for success since it was adjacent to Interstate 295, a half-mile from the New Jersey Turnpike and about 20 miles from Interstate 95. 

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Sale in Millville Near Route 55

Wolf Commercial Real Estate, a leading South Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services, now has available a South Jersey industrial building for sale at 326 South Wade Boulevard Millville NJ that is less than half a mile from Route 55.

This South Jersey industrial space for sale is a 34,000 square-foot building and the asking sale price for this industrial space in South Jersey is $2,040,000. This South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ is available through Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services.

This South Jersey industrial building for sale has ceiling heights ranging from 16 feet to 40 feet and this industrial space in South Jersey has four dock-height loading doors. There also are two 14-foot-by-14-foot drive-in doors at this South Jersey industrial space for sale at 326 South Wade Boulevard Millville NJ.

There is +/- 1,500 sf of office space over two floors at this industrial space in South Jersey and this South Jersey industrial building for sale at 326 South Wade Boulevard Millville NJ sits on approximately five acres.

This industrial space in South Jersey at 326 South Wade Boulevard Millville NJ is in the Mike Lascarides Industrial Park and this South Jersey industrial building for sale offers easy access to Route 47 and Route 49 as well as the aforementioned Route 55.

More than 39,000 people reside within a five-mile radius of this industrial space in South Jersey at 326 South Wade Boulevard Millville NJ.  The average household income in the same area near this South Jersey industrial space for sale is $65,131.

For more information about this South Jersey industrial building for sale at 326 South Wade Boulevard Millville NJ, or about any other South Jersey commercial properties for sale or lease, please contact Ryan Barikian (856-857-6307; ryan.barikian@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors, and sellers. Please visit our websites for a full listing of South Jersey commercial properties for sale through our South Jersey commercial real estate brokerage firm.

Wharton Equity buys 6 more industrial buildings in South Jersey

Wharton Equity Partners has picked up six more industrial properties totaling 283,400 square feet in South Jersey, growing its presence in the market to a total of 1.3 million square feet. 

Wharton bought the properties in Cherry Hill and Pennsauken in two separate transactions.  The deals highlight Wharton’s focus on buying smaller buildings as well as deals that involve sale-leasebacks as a way to grow its industrial portfolio in what has become a competitive market for investors. 

“We want to aggregate another million square feet in South Jersey,” said Peter Lewis, chairman and founder of Wharton Equity. “I can do that in the next 12 to 18 months but have to stay one step ahead.”

South Jersey is experiencing unprecedented industrial demand by tenants and investors looking to get in on a hot market. 

“I don’t see anything that will push rents or values backwards,” Lewis said. “You may see rents slowing but not prices.” In Pennsauken, the company bought three buildings totaling 153,400 square feet at 809 Hylton Road, 815 Hylton Road and 1045 Thomas Busch Memorial Highway in a venture with Walton Street Capital. 

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.