Vantage Commercial said Oct. 7 that it successfully closed the sale of a 105,000-square-foot former office building in Hammonton.
Located at 1001 S. Grand Ave., this well-positioned asset sits on 24 acres and has the potential for expansion. The Atlantic Commerce Center is the former home of Whitehall-Robins’ R&D and corporate offices and will undergo a conversion back to its original use as a light manufacturing and industrial complex.
The single-story building is within close proximity to the Atlantic City Expressway, minutes from downtown Hammonton, only 30 minutes from the Atlantic City Airport, and 45 minutes from the Port of Philadelphia.
Initially, Vantage Commercial was hired to lease office space within the complex. With the slow-down in office leasing resulting from the global pandemic, Vantage procured a listing with ownership to sell the property.
Senior Advisor Corinne Giletto and Executive Director Ken Richardson represented both the buyer and seller, respectively, in this transaction.
“The current shortage of industrial space in addition to the lead-time to build new capacity offered the opportunity for conversion of this building. The new owners, who are seasoned investors, saw the potential for the conversion from office to industrial in this demanding market,” Richardson said in a prepared statement.i