Penwood Real Estate Acquires Industrial Property In Bordentown For $60M With Cushman & Wakefield As Buyer's Rep

Penwood Real Estate Investment Management has acquired an industrial property located at 201 Elizabeth St in Bordentown. The property spans a total area of 275,631 square feet and was sold for a price of $60,000,000, resulting in a price per square foot of $218. The transaction took place on June 10, 2022.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $60,000,000
• Address: 201 Elizabeth St
• Market: Bordentown

The buyer, Penwood Real Estate Investment Management, was represented by Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Chris Griffith, Jeff Volpi, and Morgan Nitti from Cushman & Wakefield. The seller, The O'Donnell Group, was represented by Steven Schulz from Newmark.