Burlington, NJ — CBRE announced that it has arranged the sale of a 59.29-acre industrial site located at 107 Elbow Ln. in Burlington, New Jersey. Johnson Development Associates, Inc. acquired the property for an undisclosed sale price. The CBRE team of Dan McGovern, Paul Touhey and Drew Green arranged an off-market transaction between Johnson Development and the seller, Seacalco, LLC. Johnson Development Associates has plans to develop a 266,966 s/f warehouse facility at the
BORDENTOWN, NJ — In a transaction arranged by CBRE, Modell’s Sporting Goods has committed to a 312,373 s/f industrial lease at 201 Old York Rd. in Bordentown. The sporting goods retailer, with locations throughout the Northeastern United States, will house its logistics and distribution operations at the newly built, state-of-the-art facility owned by Matrix Development.
The CBRE team of Bill Waxman, Mindy Lissner and Steven Beyda worked in tandem with Brett Weinblatt of Com
SADDLE BROOK, NJ — Investors increasingly are warming up to the U.S. cold storage warehousing sector, pushing cap rates for class A facilities closer to those of traditional high-quality warehouses. In New Jersey, online grocery sales continue to spur the need for construction and investment in cold storage facilities. However, cold storage presents its own unique challenges, according to a new report from CBRE.
CBRE’s report, the third and final installment in its Food on
PHILADELPHIA, PA — CBRE has completed the sale and financing of a nine-building medical office portfolio totaling 470,000 s/f located in four states.
Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger of CBRE’s Healthcare Capital Markets team served as advisors for the transaction and sourced the buyer for the portfolio sale. Additionally, Sabrina Solomiany of CBRE’s Debt & Structured Finance group worked on behalf of the buyer to secure the financing. The buyer, a c
PHILADELPHIA, PA — CBRE announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson—the Philadelphia-based arm of CBRE’s Net-Lease Properties team— closed 62 properties in 2019, totaling more than $329 million, which is a 31% increase in dollar volume over 2018. The team is well-positioned to have another milestone year in 2020, with over 60 properties currently on the market and nine under contract, equaling nearly $240 million.
Completed 2019 transac
ELIZABETH, NJ — CBRE announced that the IKEA-anchored Elizabeth Center is welcoming two new big box retail neighbors; a new +/-150,000 s/f Raymour & Flanigan retail showroom and customer service center, and a soon to open +/-98,000 s/f Floor & Décor.
CBRE’s Steven Winters, on behalf of IKEA, sold 1001 IKEA Dr. in Elizabeth for $11 million to Raymour & Flanigan, which opened last month.
Winters, also on behalf of IKEA, facilitated the signing of a long-term 98,000 s/f leas
LOWER GWYNEDD — CBRE has arranged a long-term lease to relocate Anpac Bio’s U.S. based operations from San Jose, California to Spring House Innovation Park in Lower Gwynedd, Montgomery County. Anpac Bio, an innovative biotech company that applies its proprietary technology to detect early signs of cancer, will occupy 6,724 s/f at Spring House Innovation Park.
CBRE senior vice president Tony Rossi, who leads the Life Sciences Group in the greater Philadelphia region, repre