MRP Industrial Acquires 1900 River Rd Burlington From STAG Industrial For $110.5M

The property involved in this transaction is a 116.8-acre industrial redevelopment site located at 1900 River Rd, Burlington, NJ, 08016. It was sold for $110,500,000.00 and houses a 1 million-square-foot warehouse that was previously occupied by the U.S. General Services Administration. The warehouse is expected to be decommissioned as new ownership plans to construct two Class A distribution centers on a speculative basis.

Summary of transaction details:

• Property Type: Industrial Redevelopment Site
• Transaction Amount: $110,500,000.00
• Square Footage: 1,000,000 SF
• Address: 1900 River Rd, Burlington, NJ, 08016
• Market: Burlington
• Seller: STAG Industrial
• Buyer: MRP Industrial
• Seller's Representatives: Joe Hills-JLL, Joe Hill-CBRE

The deal involved multiple key individuals and companies. The selling party, STAG Industrial, was represented by Bob Yoshimura, Joe Hill, Eric Mattson, and Joe Hill Jr. from Lee & Associates. The new ownership includes a partnership between New York-based Clarion Partners and MRP Industrial, focusing on future developments on the site.