Berkeley Partners Acquires 275600 SF Industrial Building In Blackwood For $36.2M

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.