NAI Mertz’s Scott Mertz facilitates sale of 273,000 s/f industrial logistics property in Delanco, NJ

Delanco, NJ — NAI Mertz announced that Scott Mertz, SIOR, president, facilitated the sale of 800 Coopertown Rd. in Delanco. The property is a 273,000 s/f industrial logistics facility. The buyer was a joint venture between DH Property Holdings LLC (DHPH) and DRA Advisors LLC. This is the first asset DHPH, an owner/operator of urban infill logistics facilities, and DRA Advisors, a registered real estate investment advisor with more than $11 billion in AUM, have acquired together. Soho Studio Corporation was the seller.

“I am pleased to have been instrumental in bringing this property to 100% leased status at the time of closing and to have worked with the DHPH-DRA joint venture in bringing a quality asset to its portfolio,” said Scott Mertz. “This property is situated in a well-located industrial corridor within the state and provides significant room to enhance performance through leasing and operational improvements,” he added.

At closing the asset was 100% leased. DHPH is launching a comprehensive repositioning program for the property and will bring a 100,000 s/f space to market within 12 months that can be delivered with racking. The building has strong class B features including 22’+ clear ceiling height, 130’+ truck courts, a 1/10,000 s/f dock door ratio, 40’ x 40’ column spacing, ample auto and trailer parking and 3,000 amps of power. “This acquisition represents a rare opportunity to secure a functional and well-located logistics asset with immediate scale and long-term upside at an attractive basis”, said Dov Hertz, founder of DH Property Holdings. “Strong pre-leasing momentum is a testament to the quality of the asset and the uptick in tenant demand we have been experiencing across the region.”