Delanco distribution facility sold for $39.65M, Newmark says

South Jersey developer Stanker & Galetto sold a 255,000-square-foot distribution facility in Delanco for $39.65 million, according to real estate firm Newmark.

The property, a newly constructed frozen food distribution facility located at 1000 Coopertown Road, was sold to Provender Partners, based in Newport Beach, California, Newmark said in a statement.

The facility recently underwent a 95,000-square-foot expansion to accommodate Misfits Market, a food distribution company that now occupies the entire building.

Newmark Senior Managing Director Kurt Montagano represented Stanker & Galetto in the sale. Associate Ryan Guittare and Senior Managing Directors Mike Margolis and Dave Dolan provided support on the transaction. Newmark also represented the buyer.