A vacant 30,266-square-foot warehouse facility located in Pennsauken was sold to an entity associated with SNS Real Estate Investment Group, according to a Monday announcement from Colliers.
Terms are not disclosed. The transaction was led by Ian Richman of the Colliers Mount Laurel office.
Located at 7101 Airport Highway within the Airport Industrial Park, the fully air-conditioned warehouse features heavy electric service and a small fenced-in yard area, ideal for outside storage.
Sam Roney, chief investment officer at SNS, said: “SNS was very pleased to add this vacant value-add industrial property to wrap up its most recent portfolio, SNS Portfolio I. We are excited to continue working with Colliers as we execute our capital improvement plan and go to market to lease.”
Colliers has a longstanding track record of transactions within Pennsauken’s Airport Industrial Park.
“Airport Industrial Park’s immediate access to three New Jersey state highways and location just minutes from the Ben Franklin Bridge to Philadelphia will continue to make this a valued location for user sale or investment activity and a driver to the future leasing,” Richman said.
