501 Heron Drive in Swedesboro — Courtesy: Colliers International
By Joshua Burd
An affiliate of U-Haul is the new owner of a three-building flex property in Swedesboro, following a $3.52 million sale arranged by Colliers International Group Inc.
Brokers with the firm’s Parsippany office advised the seller, Starwood Property Trust Inc., in its sale of the 126,251-square-foot property at 501 Heron Drive, Colliers said in a news release. The firm identified the purchaser as Amerco Real Estate Co.
The investment sales team lead by Jacklene Chesler, senior managing director, along with Jonathan Schlussel, Evan Zweben and Christina Del Duca handled the transaction on behalf of Colliers.
“This represents a great start to 2017,” Chesler said in a prepared statement. “510 Heron Drive is a well-located property with enormous potential for reconfiguration for this user-buyer. We expect to see momentum continue in the year ahead.”
LNR Property LLC was the manager on behalf of Starwood Property. The property, which is off Interstate 295, is about 57 percent leased.
It’s also one of just two flex sites located in the Pureland Industrial Complex, New Jersey’s largest industrial park and one of the 10 largest in the U.S., Colliers said. The three buildings at 510 Heron Drive sit on 10.56 acres and feature 21 loading docks and five drive-in doors.
Philadelphia and Wilmington are about 20 minutes away from the site, the news release said. Major metro areas such as Baltimore, New York and Washington D.C. can be reached within two hours.