Berkeley Partners Acquires 275600 SF Industrial Building In Blackwood For $36.2M
500 University Court
$36,200,000
$131/SF
Building Size
275,600 SF
Asset Type
Industrial
Closing
Sep 11, 2025
AI
Aaron Snegg, Andrew Holmberg, Matthew Novak, and Bahaar Sidhu from Berkeley Partners acquired an industrial property located at 500 University Court in Blackwood, N.J. The property encompasses a total area of 275,600 square feet and was sold for a transaction amount of $36,200,000, equating to $131 per square foot. The market value reflects the transactions within the Blackwood industrial sector.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $36,200,000
- Address: 500 University Court
- Market: Blackwood
- Square Footage: 275,600
- Price per Square Foot: $131
- Buyer: Aaron Snegg, Andrew Holmberg, Matthew Novak & Bahaar Sidhu - Berkeley Partners
- Seller: Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon
The industrial building is fully leased to Mochila Fulfillment and Karcher, which operates a service center within the property. This lease arrangement contributes to the overall attractiveness of the investment made by Berkeley Partners.
Players
Blackwood Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93