220-224 Shreve St. in Mount Holly — Courtesy: Zimmel Associates
By Joshua Burd
A cannabis cultivator has leased a 95,000-square-foot industrial building in Mount Holly, in a newly announced transaction by Zimmel Associates.
The brokerage team represented BMB Properties and Management LLC in the deal at 220-224 Shreve St., noting that the facility had been vacant for more than nine months while listed with another agency. That was due in part to challenges such as lower ceiling heights, limited access to major highways and a location outside traditional industrial hubs, but Zimmel noted that it was zoned for cannabis use with the benefit of heavy power capacity and extensive air conditioning.
That provided untapped potential and paved the way for a long-term lease by the cultivation company, Beholy LLC, with Zimmel Associates President David Zimmel spearheading the deal.
“This transaction demonstrates our ability to uncover value where others see limitations,” said Zimmel, who had worked with the seller in the trade of a 100,000-square-foot industrial building in Branchburg. “By understanding both the market and the property’s unique attributes, we were able to attract the right tenant and close the deal quickly.”
