Colliers International’s Southern New Jersey office recently concluded the sale of two buildings located at 201 Erie Street in Camden, NJ for $2.8M.
The buyer, J & R Pallets is a local manufacturer and seller of new and refurbished pallets. They had outgrown their existing Camden location at 1929 S. 4th Street and needed a site that could accommodate their expansion, according to Ian Richman, the Colliers broker who facilitated the transaction. “The buyer has a long historical occupancy in Camden and was committed to staying in the city,” Richman stated. “Their workforce lives here and it was important to them that their expansion take place here.”
The buyer selected 201 Erie Street which contains two buildings totaling 78,400 square feet on 20 acres. J & R Pallets will occupy the 40,000-square-foot building which features 4,000 square feet of office space, 19′-21′ ceilings, clear span warehouse and 12 loading docks. The other building (38,400 square feet) is fully leased.
Ian Richman of Colliers International was the sole broker in this transaction and has been retained by J & R to sell their former location at 1929 S. 4th Street, which is 18,240-square-feet of warehouse space on 1.38 acres. It is fully-fenced and paved and conveniently located near I-676.Related Articles: