116 Gaither Drive in Mount Laurel — Courtesy: Colliers International Group
By Joshua Burd
A South Jersey real estate firm has sold a 106,000-square-foot industrial building in Mount Laurel for $5.65 million, according to brokers with Colliers International Group.
In a news release, the firm’s southern New Jersey office announced the sale of 116 Gaither Drive by The Bloom Organization. A private investor acquired the building, which is occupied by Food Sciences Corp. under a long-term lease.
Colliers’ Ian Richman and Marc Isdaner were the sole brokers in the transaction.
“Demand for investment properties in South Jersey is strong,” Richman said. “The building’s qualities, excellent location and historical occupancy by the tenant made it a very attractive investment.”
The building features 24-foot clear ceilings, 13 loading docks, one drive-in door, heavy electric service and expansion capabilities, the news release said.
Colliers’ South Jersey office, which is based in Mount Laurel, also recently announced the sale of five other industrial buildings in the region. Tony DiDio brokered the deals on behalf of the firm, noting that the transactions demonstrate a renewed interested in the secondary markets of Atlantic, Cumberland and Salem counties that is attributable to expansions, new business and investments.
The properties include:
- 45 Mill St. in Mays Landing, a 138,000-square-foot multiuse facility
- 1344 North West Boulevard in Vineland, a 49,000-square-foot facility
- 20 Bogdon Blvd. in Millville, a 44,000-square-foot facility
- 240 Delsea Drive South in Glassboro, 33,800-square-foot warehouse
- 18 South Virginia Ave. in Penns Grove, a 25,000-square-foot refrigerated warehouse
