High Street Logistics Expands in New Jersey With $22M Buy
- Jan 13, 2021
Vineland Construction has sold a 269,500-square-foot industrial property in Southern New Jersey to High Street Logistics Properties for $22 million. Burberry is the main tenant of the fully occupied warehouse. The deal comes roughly six months after High Street picked up the neighboring, 432,000-square-foot warehouse at 3100 N. Mill Road from the same buyer in a $23.2 million transaction.
Located at 3254 N. Mill Road in Vineland, the regional distribution center is part of the 2.7 million-square-foot Vineland Industrial Park adjacent to state highway 55. Central Philadelphia is 34 miles north, while Interstate 295 is roughly 28 miles away.
The luxury fashion house occupies roughly 87 percent of the building, while Stellar Distributing takes up 33,761 square feet. NFI Solar II leases part of the roof for solar power generation purposes.
The building dates back to 2007, according to Commercial Edge, and features 32 to 34-foot clear heights and a 3,000 square-foot showroom with office space. The property also includes 16 loading docks, four drive-in bays, as well as 222 car and 16 trailer parking spaces.
A CBRE National Partner team comrpising Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawickiled arranged the deal on behalf of the seller.