Large New Jersey Industrial Portfolio Trades Hands

Wharton Industrial and Walton Street Capital have acquired a 32-building, 1.2 million-square-foot industrial portfolio in New Jersey from the Bloom Organization.

Wharton Industrial, based in Philadelphia, and an investment fund associated with Walton Street, headquartered in Chicago, formed a joint venture that purchased two industrial parks in Pennsauken, a suburb of Philadelphia. Twinbridge Industrial Park and Veterans Industrial Park are 100% leased to 49 tenants.

Twinbridge was developed by the Bloom Organization, which is based in Mount Laurel, New Jersey, throughout the 1980s and was completed in the early 1990s. The park is a mix of single-tenant and multitenant buildings constructed with drive-in loading and 21-foot-clear ceilings. The Twinbridge site includes every building on Twinbridge Drive as well as several buildings on Remington Avenue.

Veterans Industrial Park was also developed by Bloom and includes 12 buildings on Thomas Busch Highway, Hylton Road and National Highway. As part of a unification of the properties, Veterans Industrial Park will be renamed Twinbridge West.

Besides branding the properties under the Twinbridge name, Wharton Industrial plans to upgrade the common areas of the parks, including new signage and upgraded landscaping.

The acquisition is part of Wharton Industrial’s focus on purchasing and developing well-located properties on the East Coast. The company has been active in the Philadelphia market, purchasing a 283,500-square-foot subway-repair warehouse located next to Center City. Wharton Industrial renovated it and leased it to e-commerce giant Amazon as a same-day delivery station.

The Pennsauken portfolio includes tenants such as Nestlé Waters, Lennox Industries, Cooper Electric Supply, Sprint, Kone and Enterprise Rent-a-Car.

The properties are located immediately off state highways Route 73 and 130 while also offering access to Philadelphia via the Betsy Ross and Tacony-Palmyra bridges.

*Article Courtesy of CoStar News

For more information about Pennsauken industrial space for sale or lease in Pennsauken or about any other Philadelphia properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Pennsauken commercial real estate broker that provides a full range of Pennsauken commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Pennsauken commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Pennsauken commercial properties for lease or sale through our Pennsauken commercial real estate brokerage firm.

Pennsauken Industrial Space for Sale on Commerce Highway

Wolf Commercial Real Estate, a leading Pennsauken commercial real estate broker with expertise in Pennsauken commercial real estate listings and services, now has available highly visible Pennsauken industrial space for sale at 9275 Commerce Highway Pennsauken NJ.

This Pennsauken space for sale is a 9,816 square-foot building. This Pennsauken industrial building has 8,418 sf of industrial clear span and this Pennsauken industrial space for sale also has a 1,398-sf office. This Pennsauken industrial building for sale is in the Pennsauken Industrial Park.

The asking sale price for this industrial space in Pennsauken is $735,000; this industrial space in Pennsauken sits on about one acre of land. This Pennsauken industrial space for sale at 9275 Commerce Highway Pennsauken NJ is available through Wolf Commercial Real Estate, a Pennsauken commercial real estate brokerage firm that specializes in Pennsauken commercial real estate listings and services.

This Pennsauken building for sale is a steel-frame structure with a standing metal seam roof. There are 14-feet to 18-feet ceiling heights at this industrial space in Pennsauken. This Pennsauken industrial building for sale is in an area zoned LI-Light Industrial District.

There are two docks (one loading door and one drive-in) along with 400-amp, three-phase electrical service at this industrial space in Pennsauken at 9275 Commerce Highway Pennsauken NJ. There are four ceiling-mounted natural-gas fired heaters in the warehouse of this Pennsauken building for sale and there’s a combination HVAC unit in the office area of this Pennsauken industrial space for sale.

More than 369,000 people reside within a five-mile radius of this industrial space in Pennsauken at 9275 Commerce Highway Pennsauken NJ. The average household income in the same area near this Pennsauken industrial space for sale is $64,586.

For more information about this Pennsauken industrial space for sale at 9275 Commerce Highway Pennsauken NJ or about any other Pennsauken commercial properties for sale or lease, please contact Chris Henderson (856-857-6337; chris.henderson@wolfcre.com) or Jason M. Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a Pennsauken commercial real estate brokerage firm.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Pennsauken commercial real estate broker that provides a full range of Pennsauken commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Pennsauken commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Pennsauken commercial properties for sale through our Pennsauken commercial real estate brokerage firm.

7192-7194 North Park Drive, Pennsauken, New Jersey

WCRE is proud to have exclusively represented Miller Electric MFG. LLC, an ITW Welding Company, in leasing 6,580 square feet of Flex space at 7192-7194 North Park Drive, Pennsauken, New Jersey from Cooper Park Associates, L.P.

Miller Electric chose to relocate its welding training center to North Park Drive due to it’s excellent location along Route 130 and close proximity to Routes 70, 73 & 38 along with the numerous nearby amenities the area provides for the company’s employees and customers. Cooper Park Associates operates multiple flex buildings at Cooper Center and Cooper Center West in Pennsauken, NJ.

Miller Electric Mfg. LLC, is headquartered in Appleton, Wisconsin, and wholly owned by Illinois Tool Works (NYSE: ITW). Miller’s products are designed for manufacturing, fabrication, construction, aviation, motorsports, education, agriculture and marine applications.

Ryan Barikian, Senior Associate with WCRE, exclusively represented Miller Electric in this transaction.

For buyers and tenants, Wolf Commercial Real Estate helps identify the Pennsauken industrial flex space that best matches your needs and then we ensure that the sale or lease terms go hand in hand with your commercial real estate goals. We are the partner you can rely on from the beginning of the relocation process to the very end, making certain that your transition into your new Pennsauken industrial space is a smooth one.

For owners looking to sell or lease their Pennsauken industrial buildings, our Pennsauken commercial real estate brokerage firm has created a defined marketing process that we tailor to each property and sub-market. Our proven marketing strategy is unparalleled in the industry, effectively and efficiently matching buyers and tenants with available Pennsauken industrial flex space. Demand for Pennsauken industrial buildings that are vacant or for sale is on the rise. Act now to take advantage of this favorable market for industrial space in Pennsauken.

For more information about Pennsauken industrial buildings, please contact Wolf Commercial Real Estate, the Pennsauken commercial real estate broker that you can trust for all your Pennsauken commercial real estate needs at 856-857-6300.

Pennsauken Industrial Space for Sale or Lease on Haddonfield Road

Wolf Commercial Real Estate, a premier Pennsauken commercial real estate brokerage firm that specializes in Pennsauken commercial real estate listings and services, is now offering Pennsauken industrial space for sale or lease at 3501 Haddonfield Road Pennsauken NJ.

This Pennsauken flex space for sale or lease is at the corner of Haddonfield Road and Marion Avenue and this Pennsauken industrial building for sale or lease offers 5,800 sf of industrial space in Pennsauken. This industrial and flex space in Pennsauken is available for immediate occupancy.

The asking sale price for this industrial and flex space in Pennsauken is $550,000 and the asking lease price for this Pennsauken flex building for sale or lease is $12.00/sf NNN. This Pennsauken industrial space for sale or lease at 3501 Haddonfield Road Pennsauken NJ is being offered by Wolf Commercial Real Estate, a Pennsauken commercial real estate broker with expertise in Pennsauken commercial real estate listings and services.

This Pennsauken industrial building for sale or lease at 3501 Haddonfield Road Pennsauken NJ has monument and pylon signage along Haddonfield Road, which makes this Pennsauken flex space for sale or lease at 3501 Haddonfield Road Pennsauken NJ ideal for a variety of uses. The uses that could be undertaken at this Pennsauken industrial space for sale or lease are a showroom and storage space.

This Pennsauken flex building for sale or lease sits on .30 acres and there are 16-foot ceilings at this industrial space in Pennsauken. This Pennsauken industrial building for sale or lease has one garage bay for access. In addition, there are two back offices at this Pennsauken industrial space for sale or lease and interested purchase or rental clients will find a kitchen area as well at this Pennsauken flex space for sale or lease.

This Pennsauken industrial space for sale or lease is minutes from Routes 38, 70, 73, and I-295 and is equally close to the Betsy Ross and Tacony-Palmyra bridges offering convenient access to the City of Philadelphia. This Pennsauken flex building for sale or lease is available through Wolf Commercial Real Estate, a Pennsauken commercial real estate broker with expertise in Pennsauken commercial real estate listings and services.

There are more than 299,000 residents in a five-mile radius of this industrial space in Pennsauken and the average household income within the same area of this industrial and flex space in Pennsauken is $73,696.

For more information about this Pennsauken industrial space for sale or lease at 3501 Haddonfield Road Pennsauken NJ or about any other Pennsauken commercial properties for sale or lease, please contact April D. Loomis (856-857-6308; april.loomis@wolfcre.com) or Ryan J. Barikian (856-857-6307; ryan.barikian@wolfcre.com) at Wolf Commercial Real Estate, a Pennsauken commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Pennsauken commercial real estate broker that provides a full range of Pennsauken commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, warehouse properties, industrial properties, land properties, retail buildings and other Pennsauken commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Pennsauken commercial properties for lease or sale through our Pennsauken commercial real estate brokerage firm.

MINIMIZING RISK IN SELLING OR DECOMMISSIONING INDUSTRIAL PROPERTY UNDER ISRA

In an improving economy, industrial property can change hands frequently. In a declining one, industrial property owners may be forced to wind up operations and close the facility. If you own or intend to purchase or shut down an industrial facility in New Jersey, pay particular attention to the provisions contained in the state’s Industrial Site Recovery Act.

ISRA is a unique environmental law that requires industrial facility owners and operators to investigate and remediate environmentally impacted media prior to the sale, transfer, or decommissioning of certain types of businesses. The thrust behind the law centers on the assumption that such industrial establishments, typically of the manufacturing variety, discharge, intentionally or not, contaminants during their useful life. Thus, before a sale, transfer, or closure, such property should be cleaned up appropriately. While there are exceptions, ISRA generally governs as follows.

ISRA applies to any individual or entity, corporate or governmental, who owns an industrial establishment, owns the real property of an industrial establishment, or operates an industrial establishment in New Jersey. The law only regulates those facilities listed in ISRA’s Appendix C and as defined by the North American Industry Classification System (NAICS) codes therein. Such industrial
establishments falling under ISRA’s purview include those used for chemical manufacturing, hazardous waste treatment and disposal, and utilities, to name a few. In addition, to qualify as an industrial establishment for purposes of ISRA, the business must have operated in the state on or after December 31, 1983 and use and/or store hazardous substances as defined by the state’s Spill Compensation and Control Act.
As the owner or operator of an industrial establishment, the need to comply with ISRA arises after a triggering event. Triggering events include significant changes in ownership or operation, such as business and property sales, cessation of operations, and leases for 99 years or longer. Examples of transactions not subject to ISRA include corporate reorganization not substantially affecting facility ownership, stock transfers, and easement grants. Similarly, portions of solid or hazardous waste facilities and undeveloped or vacant land are not considered industrial establishments for purposes of ISRA.

If a facility is subject to ISRA, and it does not qualify for any of the waivers or exemptions contained therein, the owner or operation must file a General Information Notice within five (5) days of any triggering event. Once notice is made, the owner or operator must conduct an environmental investigation in compliance with New Jersey’s Technical Requirements for Site Remediation,
found at N.J.A.C. 7:26E. At a minimum, a Preliminary Assessment (PA) must be performed by a Licensed Site Remediation Professional (LSRP) to identify any and all Areas of Concern. It should be noted that the scope of a PA differs materially from the American Society for Testing and Materials’ Phase I standard.

As such, if the PA discovers Areas of Concern, a subsequent Site Investigation shall be performed. The Site Investigation will explore the contaminants and determine if such exceed the current remediation standards contained in N.J.A.C. 7:26C. If contaminant levels exceed current standards, a Remedial Action Workplan (RAW) shall be proposed. The LSRP will oversee all remedial investigations and shall deliver a Response Action Outcome (RAO) once the property is deemed to be remediated to current state standards. For establishments undergoing a sale or transfer, an owner or operator must obtain an RAO, or a LSRPcertified RAW, before the transaction. For properties shutting down, an owner or operator must notify NJDEP after closing and submit a RAO or LSRP-certified RAW thereafter.

ISRA does however, allow an owner or operator to transfer ownership without an RAO or RAW in limited circumstances. An owner or operator may submit a remediation certification pursuant to N.J.A.C. 7:26B-3.3(c) instead of a RAO, or the Department can approve a regulated underground storage tank or remediation in progress waiver or a de minimis quality exemption. It should be stressed that both an owner and/or operator are strictly liable, without regard to fault, for compliance with ISRA. An
owner or operator’s failure to comply with ISRA allows a potential purchaser to rescind the sale and recover damages. Thus, it is of great importance, whether you are looking to buy, sell, or shutter an industrial establishment in New Jersey, to contact an attorney experienced in ISRA. The cost of doing business is great, but the cost of non-compliance is even greater.

For more information, please contact:

julie-lavan Julie LaVan, Esq.
New Jersey Office
11 E. Main Street
Second Floor
Moorestown, New Jersey 08057
(o) 856-235-4079
(f) 856-235-4018

michael-kondrla Michael Kondrla, Esq.
Philadelphia Office
1515 Market Street – Suite 1200
Philadelphia, PA 19102
(P) 215-854-6398
(f) 215-596-0216

Pennsauken Industrial Space

Wolf Commercial Real Estate is a leading Pennsauken commercial real estate broker that specializes in a full range of Pennsauken industrial space for buyers, sellers, owners and tenants.

The real estate professionals at our Pennsauken commercial real estate brokerage firm are the go-to experts for industrial space in Pennsauken for traditional uses such as warehousing and manufacturing, as well as for more complex flex Pennsauken industrial space that is ideal for multiple uses under a single roof, such as offices, showrooms, warehousing and more.

Why Wolf CRE for Pennsauken Industrial Space?

At Wolf Commercial Real Estate, we are the premier Pennsauken commercial real estate broker, providing the highest quality of service, proven expertise and total commitment to client-focused relationships. We offer clients and prospects alike ongoing detailed information about industrial space in Pennsauken to help them meet and exceed their commercial real estate goals.

Whether you’re buying, selling or leasing, Wolf Commercial Real Estate is the Pennsauken commercial real estate brokerage firm with the people, the power and the connections you need to close the deal.

For buyers and tenants, Wolf Commercial Real Estate helps identify the Pennsauken industrial flex space that best matches your needs and then we ensure that the sale or lease terms go hand in hand with your commercial real estate goals. We are the partner you can rely on from the beginning of the relocation process to the very end, making certain that your transition into your new Pennsauken industrial space is a smooth one.

For owners looking to sell or lease their Pennsauken industrial buildings, our Pennsauken commercial real estate brokerage firm has created a defined marketing process that we tailor to each property and sub-market. Our proven marketing strategy is unparalleled in the industry, effectively and efficiently matching buyers and tenants with available Pennsauken industrial flex space. Demand for Pennsauken industrial buildings that are vacant or for sale is on the rise. Act now to take advantage of this favorable market for industrial space in Pennsauken.

For more information about Pennsauken industrial buildings, please contact Wolf Commercial Real Estate, the Pennsauken commercial real estate broker that you can trust for all your Pennsauken commercial real estate needs.

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