October 19, 2017
Devli Group paid an undisclosed price to buy Hackettstown Commerce Park, a flex/industrial campus with nearly eight acres of developable land in Warren County, NJ.
The 197,438-square-foot campus is currently 88% leased to 11 tenants. Tenants typically stay for a long time at Commerce Park — averaging 7.7 years.
“Leasing velocity during the marketing process and closing period further demonstrated the property’s demand,” said Andrew Schwartz, director for Cushman & Wakefield, who with Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Andrew Schwartz, Kyle Schmidt, Ryan Larkin and Jason Barton represented the seller, Hampshire Management Company, and procured the buyer.
The offering drew robust touring and multiple qualified bidders.
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