17 Quakerbridge Plaza Drive in Hamilton — Courtesy: HFF
By Joshua Burd
Matrix Development Group has sold another industrial building in the Exit 7A submarket, HFF announced, commanding $8.5 million for a 76,220-square-foot property in Hamilton.
Brokers with the firm represented Matrix in the sale of 17 Quakerbridge Plaza Drive, which sits on more than 13 acres just off Interstate 295, to Black Creek Group. Completed in 2017, the warehouse and distribution facility is fully leased to two tenants.
The HFF team included Senior Managing Director Jose Cruz and directors Marc Duval, Jordan Avanzato and Mark Mahasky, along with Senior Managing Director Kevin O’Hearn and senior directors Steve Simonelli and Michael Oliver.
“The acquisition of this recently developed, Class A building is an excellent opportunity for Black Creek Group to continue to expand our presence in the strong 7A industrial submarket,” said Dave Fazekas, senior managing director for the eastern region of Black Creek Group. “We have not only seen healthy tenant demand in the market but continue to see the area evolve as a major industrial corridor.”
HFF touted the site’s location about 8.5 miles from the New Jersey Turnpike and its easy access to the new connection to the Pennsylvania Turnpike. The property features three dock-high doors expandable to 19, one drive-in door and 30-foot clear height.
“Investor demand is outpacing supply and assets available for sale, thus continuing to drive pricing in this submarket,” Cruz said.