Lee & Associates arranges $14.75 million sale of 30.8-acre site in Florence Township, NJ
FLORENCE TWP., NJ — Lee & Associates of Eastern Pennsylvania’s Capital Markets team orchestrated the $14.75 million sale of a 30.8-acre site located on Railroad Ave. in Florence Twp., Burlington County. Black Creek Group purchased the land, which consisted of two separate parcels, from Foxdale Properties. At the time of sale, the site was fully approved for the construction of a 300,700 s/f warehouse/distribution facility.Lee & Associates of Eastern Pennsylvania’s Capital Markets team consisting of Bob Yoshimura, Joe Hill, Eric Mattson and Joe Hill, Jr. represented Foxdale Properties in the sale. Robert Lambert, from Cushman & Wakefield’s Irvine, California office, co-brokered the deal in conjunction with the Lee & Associates team. John Dewey of MDI Strategies, LLC provided consulting services to the owner, helping to plan and complete the entitlement/approval process for the property prior to the sale.“The site’s premier, infill location combined with its immediate development potential attracted every major institutional developer on the East Coast.