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Thorofare, N.J., Flex/Distribution Asset Ideally Situated in Southern N.J. Industrial Market
THOROFARE, N.J., Oct 23, 2018 – Cushman & Wakefield has been appointed to market 66 Friars Boulevard in Thorofare as a flex/distribution opportunity for sale or lease. Managing Director Matthew Marshall, based in the commercial real estate firm’s Conshohocken, Pa., office, is heading the assignment.
“Current ownership is a regional food distribution company, which makes this is an ideal offering for a similar business that wants to locate south of the New Jersey Turnpike Corridor at Exit 8A, where increasingly high labor, rent and operating expenses are placing pressure on operating margins,” said Marshall. “That said, 66 Friars Boulevard’s prime location in the heart of the Southern New Jersey industrial market, impressive masonry- and fluted-block construction, cooler/ freezer space and ample trailer loading and parking spaces make the building a fit for a variety of distribution and light manufacturing and assembly end users.”
The 25,000-square-foot facility, which is expandable to approximately 40,000 square feet, features 24- to 30-foot clear ceiling heights and approximately 4,100 square feet of cold storage space. The property includes seven exterior loading docks and one drive-in loading door, as well as 115 parking spaces and a generous car parking ratio of 5.45 per 1,000 square feet.
The single-tenant asset is situated near Interstate 295 and the New Jersey Turnpike, offering easy access to the region’s deep-water ports (Elizabeth/Newark, Philadelphia and Wilmington) and transportation infrastructure. “There has been a significant increase in demand for warehouse/distribution space, particularly in the Gloucester and Burlington County submarkets, than we’ve seen historically,” noted Marshall. “With fewer land sites available in Southeastern Pennsylvania and the need to better service the growing population in Philadelphia and the suburbs, Southern New Jersey’s tenant/user-owner warehouse demand continues to intensify.”
66 Friars Boulevard is coming available as of January 1, 2019. Office furnishings and some warehouse equipment will be made available for the future buyer or tenant.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.