By Joshua Burd
Brokerage firm NAI Mertz is touting the $26 million sale of a nearly 255,000-square-foot industrial building in Logan Township, in one of several newly announced first-half deals.
In a news release Wednesday, Mertz said an undisclosed buyer purchased 405 Heron Drive, a 254,220-square-foot property near Interstate 295. NAI Mertz President Scott Mertz detailed the sale alongside other transactions, including a 768,750-square-foot lease of 3280 Route 206 in Bordentown to Aukey Technology, in what he said was the largest new lease in the Philadelphia market in the second quarter.
All told, he brokered more than 5 million square feet of sale and lease transactions in and around southern New Jersey during the first half of 2021, with a combined value of $300 million.
“The southern New Jersey industrial market continues to flourish and finding the ideal properties for my clients continues to be challenging and rewarding at the same time,” Mertz said. “Demand for industrial properties along the New Jersey Turnpike and major highways is strong, and continues to push vacancy rates down and increase rent prices. Now is a great time for owners to secure top-notch tenants, and for investors to add great value to their portfolios.”
Other deals by Mertz include:
- The sale of 103-105 Gaither Drive, an 89,140-square-foot property in Mount Laurel, for $10.9 million.
- The sale of 123 Gaither Drive, a 42,852-square-foot building in Mount Laurel, for $4.4 million.
- The 486,812-square-foot lease of 1950 River Road in Burlington to LC Logistic Services.
- The 266,966-square-foot lease of 105 Elbow Lane in Burlington to Western Post.
- The sale of 8 Queen Anne Court, a 237,867-square-foot distribution center in Langhorne, Pennsylvania, for $33.19 million
