By Joshua Burd
Real estate investment firm GID has acquired more than 110,000 square feet of vacant industrial space outside Camden, with plans to renovate the building to attract new tenants.
The privately held company, which is based in Atlanta, reportedly paid $14.75 million for the facility at 8290 National Highway in Pennsauken. It announced the deal Tuesday while noting that the 111,400-square-foot building is minutes from interstates 95 and 295 and just outside Philadelphia.
GID added that the space can accommodate one or two tenants and has 20-foot clear ceiling heights, one drive-in door and 15 dock-high doors. The site, meantime, is a former facility for the logistics firm Lyons & Sons, as noted by the Philadelphia Business Journal, which linked the company to the selling entity through a shared address.
Its new owner has more than $29 billion assets under management across 22 markets, though its website does not list any industrial holdings in New Jersey.
