SOLD
DRA Advisors Acquires Twinbridge Industrial Park In Pennsauken For $194.5M
CBRE & Colliers brokers Pennsauken Portfolio for $194,500,000
Industrial
1,300,000 SF
1,300,000 SF
Sold 310 days ago
Summary
Sale
NEW JERSEY
Industrial
1,300,000 sqft
Wharton Industrial and Walton Street Capital have completed the sale of Twinbridge Industrial Park, a 1.3-million-square-foot industrial portfolio in Pennsauken, New Jersey. The portfolio, consisting of 37 buildings, was sold for a total of $194.5 million. Located near Philadelphia, the industrial park offers strategic proximity to key markets.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $194,500,000
- Square Footage: 1,300,000 SF
- Price Per Square Foot: $150
- Address: 8500 Remington Avenue
- Market: Pennsauken
The sale was handled by CBRE representatives Brad Ruppel, Mike Hines, and Liam Fahey, as well as Colliers representatives Marc Isdaner and Ian Richman. The buyer, DRA Advisors, acquired the portfolio from Wharton Industrial and Walton Street Capital. The transaction underscores the demand and investor interest in the industrial sector in the Pennsauken market.
Players
All
7
Agents
5
Agencies
2
Details
SOLD
IMAGE: Brad Ruppel, Mike Hines, Liam Fahey, Marc Isdaner & Ian Richman
DATE: 06/28/2023
ADDRESS: 8500 Remington Avenue
MARKET: Pennsauken
ASSET TYPE: Industrial
BUYER: DRA Advisors
SELLER: Wharton Industrial - Peter C. Lewis; Walton Street Capital
BROKER: Brad Ruppel, Mike Hines & Liam Fahey - CBRE (@CBRE); Marc Isdaner (@MarcIsdaner) & Ian Richman - Colliers (@ColliersInternational)
SALE PRICE: $194,500,000
SF: 1,300,000 ~ PPSF: $150
NOTE: Wharton Industrial and Walton Street Capital have sold Twinbridge Industrial Park, a 1.3-million-square-foot industrial portfolio in Pennsauken, New Jersey, for $194.5 million. The portfolio, consisting of 37 buildings, was purchased by an affiliate of DRA Advisors and is strategically located near Philadelphia.View on map
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AddressCBRE & Colliers brokers Pennsauken Portfolio for $194,500,000
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