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Follow on Google News | Cushman & Wakefield Arranges Sale of Two-State Industrial PortfolioSK Realty Management acquired Four Buildings totaling 950,868 Square Feet in Maryland and New Jersey
By: Caryl Communications, Inc. The Cushman & Wakefield team was led by Gary Gabriel of the firm’s Metropolitan Area Capital Markets Group in East Rutherford, N.J. and implemented locally by Cristopher D. Abramson, Brian N. Kruger and Nicholas Signor in Baltimore and Paul Torosian and John T. Plower in the Philadelphia office. Michael Ryan of Cushman & Wakefield Sonnenblick- “We are very pleased to have executed within a very tight time-frame,” The three Maryland industrial properties include 500 Hickory Drive, totaling 470,707 square feet on 44 acres in Aberdeen, long-term leased to Saks & Company; the 205,030-square- The New Jersey property in the portfolio is 100 Friars Boulevard in Thorofare and consists of 181,370 square feet on 12.7 acres. All four properties are utilized for warehouse/distribution purposes. “Each of the tenants within the portfolio were long-term building occupants, offered solid credit, and were fully utilizing the building,” said Gabriel. “That, combined with a portfolio-wide average remaining lease term of 6.42 years, made the offering particularly compelling. “Multi-state portfolio transactions such as this require a great deal of cooperation,” End
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