The Interstate Business Park in Bellmawr — Courtesy: CBRE
By Joshua Burd
Investment firm Ivy Realty has purchased a pair of single-tenant industrial buildings in Camden County for $19.25 million, adding more than 170,000 square feet to its portfolio.
According to CBRE, which brokered the transaction in Bellmawr, the deal includes a 78,000-square-foot property at 400 Benigno Blvd. that serves as a corporate headquarters, production and distribution building. The building sits on five acres and has nine tailgate-height loading docks, two drive-in doors, ceiling heights up to 28 feet and 810 rooftop solar modules for a total capacity of 279 kilowatts.
The second property is 101 Haag Ave., which spans 93,500 square feet and also serves as a headquarters, production and distribution facility. The building has five tailgate-height loading docks, two drive-in doors, ceiling heights up to 22 feet and solar modules on the roof and ground-mounted for a total capacity approaching one megawatt.
The CBRE capital markets team of Stephen Marzullo and Adam Silverman, in partnership with the firm’s Dan McGovern, represented an undisclosed seller in the deal. They noted that both properties are located within Bellmawr’s Interstate Business Park, a 2.85 million-square-foot multiuse complex of 40 office, distribution and warehouse buildings six miles from Center City Philadelphia.
The park is home to tenants such as the U.S. Postal Service, International Paper, Airgas, Comcast and J&J Snack Foods.
