Black Creek Group Buys Industrial Warehouse in New Jersey for $8.5M

HFF announces $8.5M sale of new industrial warehouse facility in Hamilton, New Jersey
17-Quakerbridge

April 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $8.5 million sale of 17 Quakerbridge Plaza Drive, a fully leased, 76,220-square-foot industrial warehouse and distribution facility in Hamilton, New Jersey.

The HFF team marketed the property on behalf of the seller, Matrix Development Group. Black Creek Group purchased the asset.

“The acquisition of this recently developed, Class A building is an excellent opportunity for Black Creek Group to continue to expand our presence in the strong 7A Industrial submarket. We have not only seen healthy tenant demand in the market but continue to see the area evolve as a major industrial corridor,” said Dave Fazekas, senior managing director for the eastern region of Black Creek Group.

Situated on 13.56 acres in the 7A Industrial submarket, 17 Quakerbridge Plaza Drive is located immediately off Exit 65A of Interstate 295, approximately 8.5 miles from Interstate 95 (New Jersey Turnpike), giving easy access to the new Pennsylvania Turnpike/Interstate 95 Interchange, a $400-million infrastructure project that will connect two of the busiest highways in the United States, further enhancing the submarket’s accessibility to the larger region and entire East Coast. Completed in 2017, 17 Quakerbridge Plaza Drive is fully leased to two tenants. The property features three dock-high doors expandable to 19, one drive-in door and 30-foot clear height.

The HFF team included senior managing director Jose Cruz, directors Marc Duval, Jordan Avanzato and Mark Mahasky, as well as senior managing director Kevin O’Hearn and senior directors Steve Simonelli and Michael Oliver.

“Investor demand is outpacing supply and assets available for sale, thus continuing to drive pricing in this submarket,” stated Cruz.

Categories
AcquisitionCommercialDealsIndustrialNationalNew JerseyNortheast

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