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Real Estate Round Up
Real Estate news in our region.

by Staff

Early last month, it was announced that Affinius Capital LLC closed a $102 million construction loan for a 700,000-square-foot industrial project in Burlington County. The joint lending venture of USAA Real Estate and Square Mile Capital Management reports that the deal will support phase two of the Tac-Pal Logistics Center on Route 73 in Palmyra.

A recent four-state, $100-million portfolio transaction had an investment group recently acquiring the 147,694-square-foot Cross Keys Place shopping center in Sewell, which is anchored by Michaels, Old Navy, Petco and the most-visited Edge Fitness in New Jersey.

Vantage Commercial Real Estate has announced that it successfully facilitated an off-market sale of two Glassboro properties, located at 236-238 and 240-242 Delsea Drive S. in Glassboro. The former is a 10-acre parcel adjacent to the latter, a 33,000-square-foot building located on a 15-acre lot.

Earlier this fall, WCRE completed a major lease transaction, representing Triumvirate Investment, LLC, in securing the approximately 16,375-square-feet office space at 400 Fellowship Road, Mount Laurel Jersey. The building is 95% occupied with 2,200 square feet of leasable space remaining.

In a deal arranged by Marcus & Millichap, investment firm KPR Centers has recently sold an approximately 103,000-square-foot shopping center in Gloucester Township. The Gloucester Town Center, an Acme-anchored property, is located at 525 Berlin-Cross Keys Road and 98% leased.

Last month, the commercial real estate development, investment and property management firm Atkins Companies announced lease expansions with Rowan Medicine, Weisman Children’s and Jefferson Health at the Washington Medical Arts Building. Atkins acquired the roughly 70,000-square-foot medical office building located at 405 Hurffville Cross Keys Road, Washington Township, in early 2023, and its capital improvement plan is expected to be complete in spring 2024.

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Published (and copyrighted) in South Jersey Biz, Volume 13, Issue 12 (December 2023).

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