NAI Mertz inks $2.6M industrial building sale in Vineland

NAI Mertz, a commercial real estate firm based in Mount Laurel, announced on Tuesday it has closed the $2.6 million sale of an industrial building in Vineland.

The firm’s Jonathan Klear, senior vice president, and Fred Meyer, executive vice president and director of brokerage and corporate services, represented the seller, LS Capital, in the deal. Columbia Care, a cannabis-based health and wellness solutions provider, was the buyer and will take over the 50,274-square-foot building located at 1560 NW Blvd.

“The culmination of the sale of this vacant industrial building, at an aggressive price, was an important real estate transaction for our client, which took over a year to complete” Klear said. “We are glad to have worked with LS Capital to find the right buyer for this property,” he added.

This is Columbia Care’s first location in New Jersey and represents one of six New Jersey cultivation licenses issued in 2018.

“New Jersey is moving to provide alternative healthcare for qualifying patients, and Columbia Care is a trusted and respected company in its industry,” Meyer said. “This property provides quality warehouse and office space, and a smart location, to support its business operations.”

Situated on more than 2 acres, the warehouse space has two drive-in doors, four platform loading docks, 15- to 27-foot ceiling heights, and more. It also has 2,749 square feet of office space with seven private offices and four restrooms.

The property is within close access to routes 47 and 55.