NAI Mertz inks sale of 140,000 s/f industrial building in Delanco, New Jersey
Delanco and Marlton, NJ — NAI Mertz announced the team of Jonathan Klear, senior vice president, Roy Kardon, SIOR, vice president; Jeff Licht, SIOR, senior vice president; Jared Licht, senior associate; and Fred Meyer, EVP corporate services, completed the sale of a 140,000+/- s/f industrial building located at 740 Coopertown Rd. in Delanco to buyer Faropoint.
The team represented both the seller and buyer in this transaction including the long-term leaseback to the tenant-in-place, Stylex Seating.
In a separate transaction, Velocity Venture Partners announced three long-term flex-industrial leases totaling 40,000 s/f at Velocity Business Park in Marlton.
NAI Mertz’s team of Jonathan Klear, Andrew Johnson & Jason Simkins acted as the sole broker in the sale of this business park to Velocity Venture Partners in the fourth quarter of 2021 and was retained to continue serving as the eleasing broker.
The three leases recently completed include:
• Lauda-Brinkmann, a multinational temperature control technology firm based out of Germany, leased a 20,000 s/f unit leased for 15 years. The flex unit will be redesigned as a 50/50 split between warehouse and office space. The warehouse portion of the unit will be served by two new loading docks.
• Westrock, one of the largest corrugated packaging companies in the United States, leased a 15,000 s/f flex unit. WestRock is a publicly traded business on the New York Stock Exchange and boasts over $18B in annual revenue.
• Schmid Dewland Associates leased a 5,000 s/f unit. This unit will soon become Schmid’s headquarters and will feature roughly 50/50 office/warehouse footprint with the warehouse portion hosting a demo kitchen for its customers.