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August 4, 2020 Comments Off on 1.2M-SF Industrial Portfolio Trades in Philly’s NJ Suburbs Views: 1089 National News, New Jersey, Northeast

1.2M-SF Industrial Portfolio Trades in Philly’s NJ Suburbs

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Colliers International’s Ian Richman and Marc Isdaner arranged the sale of Twinbridge Industrial Park and Veterans Industrial Park, a 32-building, 1,164,939-square-foot portfolio in Pennsauken, NJ, near Philadelphia. The Bloom Organization, which developed both parks, was the seller and a joint venture between Wharton Industrial and a Walton Street Capital affiliate was the buyer. 

Deal terms weren’t disclosed. Colliers was the sole broker in the transaction, and will lease and manage the properties on behalf of the new ownership.
“We are extremely excited to be acquiring this special portfolio, which has a heritage of excellence cultivated by the Bloom Organization over the years,” said Wharton president Peter C. Lewis. “We are fully committed to following in their footsteps by providing a superior product and level of service.” 

Besides unifying the properties under the “Twinbridge” name, Wharton Industrial will be undertaking a comprehensive upgrading to the common areas of the park.

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