Camber Real Estate Partners and Invesco Real Estate’s five-building industrial portfolio acquisition includes 130 Mount Holly Bypass (pictured), along with 6 Berry Drive in Hainesport and 110, 120 and 140 Mount Holly Bypass, all in Lumberton. — Courtesy: Camber
By Joshua Burd
Camber Real Estate Partners and Invesco Real Estate have added more than 384,000 square feet of industrial space as part of a five-building portfolio deal in northern Burlington County.
The firms said the properties, originally developed by Whitesell, include 6 Berry Drive in Hainesport and 110, 120, 130 and 140 Mount Holly Bypass in Lumberton. Each building benefits from a location just 20 miles east of Philadelphia, with a diverse tenant base and a business park environment that offers prominent visibility and frontage.
CBRE National Partners’ Michael Hines, Joe Hill and Brad Ruppel represented the private seller in the transaction, the terms of which were not disclosed.
“Shallow-bay industrial product is continuing to perform well, especially in last-mile locations along the Northeast Corridor,” said Chris Bellapianta, Camber managing principal. “This acquisition represents a unique opportunity to invest in a high-growth region with unparalleled accessibility, a strong labor pool and modern industrial assets that meet the evolving needs of today’s tenants. We are thrilled to partner with Invesco Real Estate on this exciting acquisition.”
Part of the growing submarket around New Jersey Turnpike Exit 5, the portfolio is about six miles east of the highway and from Interstate 295. Camber said the buildings, which total 384,335 square feet, also have modern warehouse spaces with 30-foot clear ceiling heights.
The firm added that the investment is its first under Kevin Interlicchio, who joined Camber as director of acquisitions last September. He is a former vice president at PGIM Real Estate, where he played an instrumental role in executing industrial transactions totaling more than 42.7 million square feet.
“As a region on the rise, Burlington County has come full circle with regard to the movement of goods,” said Darren Xu, a director with Invesco Real Estate. “While the area had once been the center of all things manufacturing and shipping in the 19th century, it has now cast itself as a critically important last-mile logistics hub. This is due in large part to the recent widening of the NJ Turnpike between exits 6 and 9, rendering it the nexus of the New Jersey and Pennsylvania Turnpikes.”
Interlicchio added that Camber’s latest acquisition aligns with its value-add investment strategy of middle-market, infill light industrial assets in select East Coast markets.
“By targeting these types of opportunities, Camber is generating durable cash flow for its investors while realizing the intrinsic value of the assets through a repositioning strategy,” Interlicchio said.
