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500 University Court

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

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

Matthew Novak

Berkeley Partners

Buyer

$117.3M

vol

4 deals

Buyer

Josh Baumgarten

Seller

$1B

vol

18 deals

Seller

Blackwood Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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