Mt. Laurel and Moorestown NJ — NAI Mertz closed the sale of 103 -105 West Park Dr. in Mt. Laurel. The team of Jonathan Klear, senior vice president; Fred Meyer, executive vice president; Roy Kardon, SIOR, vice president; Jeff Licht, SIOR, senior vice president; and Jared Licht, sales associate, represented the buyer, Faropoint, in this transaction. The company is a fully-integrated industrial investment firm that owns and manages a diverse portfolio of stabilized properties.
“We have been working with Faropoint for over a year to identify and underwrite attractive, off market, regionally located opportunities. The company’s Northeast portfolio is growing substantially with the help of NAI Mertz” said Klear. “We are pleased to have found our client this great investment property, which is fully occupied by a long-time tenant, making this sale more attractive to their business objectives,” he added.
Located just off I-295 and convenient to the New Jersey Tpke. and Rtes. 70 and 73, this 61,000 s/f industrial property features heavy power for manufacturing, updated office space, and an additional parking lot for excess trailer parking.
In a separate transaction, Klear completed a 54,250 s/f industrial building lease at 923 N. Lenola Rd. in Moorestown, NJ. Klear represented the building's prior tenant, as well as Exeter Property Group, the property owner. ASGS-All Season Movers, a moving company that provides local, long-distance and international moving services, has signed a long-term lease to occupy the entire building.