NAI Mertz on Aug. 18 said that President Scott Mertz closed sale and lease transactions in the southern part of the state in the first half of 2021 in the range of $300 million in total volume.
Mertz had three deals among the 10 largest industrial lease transactions in the Philadelphia market in the second quarter of 2021, earning him CoStar Power Broker recognition.
“The southern New Jersey industrial market continues to flourish and finding the ideal properties for my clients continues to be challenging and rewarding at the same time,” stated Mertz. “Demand for industrial properties along the N.J. Turnpike and major highways is strong, and continues to push vacancy rates down and increase rent prices. Now is a great time for owners to secure top-notch tenants, and for investors to add great value to their portfolios,” he added.
Some of the transactions completed by Mertz in the first half of this year include:
- The sale of 8 Queen Anne Court, a 237,867-square-foot distribution center in Langhorne, Pa. for $33,190,294.
- The sale of 405 Heron Drive, a 254,220-square-foot industrial property in Logan Township for $26 million.
- The sale of 103-105 Gaither Drive, a 89,140-square-foot industrial property in Mount Laurel for $10.9 million.
- The sale of 123 Gaither Drive, a 42,852-square-foot industrial property in Mount Laurel for $4.4 million.
- The 768,750-square-foot lease of 3280 Route 206, in Bordentown to Aukey Technology. This was the largest new lease in the Philadelphia market in the second quarter.
- The 486,812-square-foot lease of 1950 River Road in Burlington to LC Logistic Services.
- The 266,966-square-foot lease of 105 Elbow Lane in Burlington to Western Post.