Binswanger Brokers Sale of the Largest Facility in the Evesham Corporate Center in Marlton, NJ
PHILADELPHIA, PA – December 12, 2023 – Binswanger, an innovator in commercial real estate since 1931, announced today it has brokered the sale of a multi-tenant industrial facility in Marlton, NJ owned by Plymouth Industrial REIT, Inc. to DH Property Holdings, a leading owner and developer of urban infill logistics facilities.
Originally built in 1986, 4 E. Stow Road is a five-unit, 156,000-square-foot distribution facility situated on 14.5 acres of ground. Located within the Evesham Corporate Center, it offers easy access to 1-295 and the NJ Turnpike (Exit 4), as well as NJ Routes 73, 70, and 38.
“This transaction shows the high value of last-mile distribution facilities with excellent regional access and strong historical tenancy,” said Binswanger Senior Vice President, Mike Torsiello, SIOR, who brokered the deal along with Senior Vice President & Partner, Chris Pennington. “We were able to bring DHPH to the table and secure a deal extremely quickly.”
DHPH plans to make upgrades to the building’s one available unit (Unit 8) which Binswanger will be bringing to market. The 26,719-square-foot unit features eight tailgate loading docks, one drive-in door, LED lighting, and approximately 2,600 square feet of office space.
“We are excited to add 4 East Stow to our portfolio of Class B, infill, industrial assets in coastal markets,” said Ariel Tambor, DH Property Holding’s Director of East Coast Acquisitions. “The multi-tenanted property’s access, location, and parking/loading features will cater well to the stellar demand for sub-50,000 square foot spaces in Southern New Jersey. The Binswanger Team was instrumental in getting the transaction closed.”
This marks DH Property Holding’s third acquisition in Southern New Jersey in just the past year, totaling $50 million in transactions across 10 assets. The institutional real estate firm is currently in acquisition mode for industrial facilities in coastal markets throughout the U.S.
Binswanger, a global leader in full-service commercial real estate, has been helping its clients realize their full real estate potential since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate has the ability to strengthen businesses and transform communities. The company offers a variety of services benefitting both owners and occupiers including global real estate brokerage, location consulting, investment sales, tenant representation, corporate advisory, strategic consulting, and a variety of management services. Having worked with more than half of the Fortune 500, the employee-owned company has long been known as the industry leader in the acquisition and disposition of industrial and commercial facilities around the globe. For more information, please visit www.binswanger.com.