Binswanger Brokers the Sale of a Last-Mile Industrial Facility in Pennsauken, NJ
PHILADELPHIA, PA – Sept. 6, 2023 – Binswanger, an innovator in commercial real estate since 1931, announced today that it has brokered the sale of 7040 Colonial Highway in Pennsauken, New Jersey, a 24,000-square-foot light manufacturing and distribution facility owned by a private partnership to SNS Real Estate Investment Group.
SNS, which is based in Teaneck, NJ, has re-leased the property to its previous occupant and plans minor renovations to the facility in the coming months. “We were very glad to add this to our growing Pennsauken Industrial portfolio,” said Sam Roney, SNS’s Chief Acquisitions Officer. “Mike [Torsiello] from Binswanger has been able to secure two great assets for us in this market this year already.”
SNS continues to aggressively acquire industrial properties across NJ and the surrounding areas and welcomes further acquisition opportunities.
Located in the Airport Industrial Park, the property offers immediate access to multiple regional arteries, including U.S. Route 130, NJ Route 38, and NJ Route 70 which provide easy access to both Center City Philadelphia (via the Besty Ross Bridge) and the Eastern Seaboard (via I-295 and the NJ Turnpike). The fully air-conditioned facility features approximately 5,000 square feet of office space, two tailgate loading docks and one drive-in door, ample power, and 38 marked surface spaces. It will continue to be occupied by Print Communication Associates.
“We were able to capitalize on the property’s highly desirable location within a last-mile industrial park, incredible access to regional distribution points, and limited supply of similar occupied facilities,” said Binswanger Senior Vice President, Mike Torsiello who brokered the transaction.
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.