Holliday Fenoglio Fowler L.P. announced Thursday it has closed on the $8.5 million sale of an industrial warehouse and distribution facility in Hamilton.
The 76,220-square-foot building, located at 17 Quakerbridge Plaza Drive, is fully-leased to two tenants, HFF said.
HFF’s Jose Cruz and Kevin O’Hearn, senior managing director; Steve Simonelli and Michael Oliver, senior directors; and Marc Duval, Jordan Avanzato and Mark Mahasky, directors; marketed the property on behalf of the seller, Matrix Development Group. The buyer was Black Creek Group.
“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,” Dave Fazekas, senior managing director for the eastern region of Black Creek Group, said.
The property is within close access to Exit 65A of Interstate 295, the New Jersey Turnpike and the Pennsylvania Turnpike. It features three dock-high doors, one drive-in door and 30-foot ceilings.
“Investor demand is outpacing supply and assets available for sale, thus continuing to drive pricing in this submarket,” Cruz said.