Logistics Property Co. Plans 1.5 Million-Square-Foot Industrial Center Outside Philadelphia

A Chicago developer has acquired a site outside Philadelphia where it plans to build a more than 1 million-square-foot industrial campus.

Logistics Property Co. purchased a 72-acre parcel in Cinnaminson, New Jersey, for its planned Box Park Logistics Center, which will have 1.2 million to 1.5 million square feet of industrial space and up to 6 acres of parking.

“This is a trophy project in one of the strongest markets in the country,” Mark Glagola, senior vice president and market leader, Northeast region, for Logistics Property, said in a statement. 

New Jersey does in fact have one of the hottest industrial markets in the nation, with record-low vacancy rates and demand outpacing supply. The Garden State benefits because it is located in the center of a densely populated region, nestled between New York City and Philadelphia, a key for quick delivery in the age of e-commerce. 

“Strong fundamentals have attracted developers and more than 5 million [square feet] of new inventory has opened since the start of 2017,” CoStar said in a recent report on the Northern New Jersey logistics market. “Industrial tenants favor new, efficient facilities and projects generally see rapid lease-up.”

The Philadelphia industrial market is also performing well, according to CoStar.

*Article courtesy of Costar

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Pilots Worry About the Future if the Flying W Airport in Medford Turns into a Housing Development

When grounded by bad weather or just needing a get-together, some pilots gather in a hangar at the Flying W Airport, sit around a coffee table and, surrounded by flying memorabilia, light up a Cohiba cigar or sample bourbon.

Just feet away in this man cave of hangars at the airport straddling the Medford-Lumberton border sits Joe Costanza‘s bright yellow, two-seater 1941 Piper Cub ready for good-weather and recreational flying. For Costanza, it’s a far different way of piloting than in his day job — captaining a Spirit Airlines Airbus.

“Airline flying is great, but this is the best flying you’ll ever do: at the small local airport,” said Costanza, a Marlton resident.

But no one knows the future of the Medford airport. Owner Cave Holdings – Flying W LLC has received the necessary permission from Medford Township to begin the process of shutting down the Flying W on Fostertown Road and turning it into affordable and senior housing.

Under the redevelopment concept plan, which still would need Planning Board approval when completed, the Medford part of the Burlington County airport and adjacent vacant land would be developed into 290 age-restricted housing units and 90 rent-affordable family units. The development would help the Township meet its affordable housing obligation under the court-mandated Mount Laurel affordable housing plan.

While a shutdown would mean an end to the informal meetings of the “Hangar Rats,” as they call themselves, it also could mean the end of flying for some of the pilots whose 100 or so aircraft call the Flying W home.

Fewer places to store private planes

“There is a shortage of hangars,” Sean Collins, regional manager of government affairs for the Aircraft Owners & Pilots Association, told 70and73.com. Vacant hangar space is scarce not only in New Jersey, but in many states, particularly the ones where winters require some aircraft to be housed indoors, Collins said.

A survey of 116 airports in Pennsylvania by the association found that 90% are full. In New Jersey, it’s worse, because there are fewer than 40 public-use airports, Collins explained.

“Sadly, folks might have to travel quite a bit farther to store their aircraft,” the Maine-based association manager and commercial pilot said. “Some pilots may get out of aviation altogether.”

When John and Dawn Cave bought the struggling, then-32-year-old Flying W in 1996, they restored the facility, making the on-site motel, restaurant and airplane-shaped swimming pool a destination both for local flyers as well as visiting pilots landing for a “$100 hamburger.” Hamburgers, of course, weren’t that expensive, but the inside joke in recreational flying is that you set a pleasure flight destination and land for lunch or dinner, with $100 or more being the cost of the excursion.

Several pilots interviewed recently at the Flying W credited the Caves with operating a thriving airport for years, a place that went beyond flying and was fun. It was a place they could stay overnight, take the family to the pool and be around other flying enthusiasts.

What is ‘obsolete, dilapidated’?

The pilots say that Cave is a private land owner and can do anything he likes with his 106-acre property — including developing it himself or selling it to a developer. 

But the group of pilots nevertheless was irked by a Township study issued by the Taylor Design Group Inc. in March — used by Town Council to declare the airport as an Area in Need of Redevelopment — that suggests the Flying W is in a state of disrepair. 

“The portion of the airport located in Medford contains scattered office buildings, hangars and outbuildings,” according to the report. “All these structures are in need of repair and/or rehabilitation and are obsolete and dilapidated,” the Taylor Design report states.

Finding a property and its buildings generally obsolete or dilapidated is one of the criteria that can be met before a municipality deems it an Area in Need of Redevelopment under New Jersey state law. Officially naming a property in need of redevelopment permits the municipality to offer tax breaks on any improvements to the property, such as the housing project planned for the Flying W.

Township Council in May approved the Flying W as an Area in Need of Redevelopment after a Planning Board endorsement of the plan.

Taylor’s 2021 report was based on one written and submitted in 2017 to the township by his firm. “In particular, one of the hangars is rented but hardly used, while the other is completely utilized by the owner of the airport for personal storage, because despite attempts to do so the space has not been rented,” the 2017 report states.

However, the report does not delve into the half-dozen hangar buildings that are rented out and active with private pilots on the Lumberton side of the airport. The Medford-Lumberton border horizontally bisects the airport’s 3,500-foot runway.

“Much of the information analyzed was provided by the landowner, which is common with redevelopment analyses,” Scott Taylor of Taylor Design told 70and73.com. Messages were left for John Cave at the Flying W office, but he could not be reached for comment.

Taylor explained that, for an Area in Need of Redevelopment decision, Medford Township could consider only that part of the Flying W within its borders. 

Medford’s goal was to show progress in its plan to provide affordable housing in town.

“One of the driving and guiding forces behind all of this has been the township’s need to satisfy the affordable housing obligation,” Taylor said. He said the project is setting aside 24% of its units for affordable housing, which is more than the usual 20% for other developments.

Is the Flying W obsolete?

“That sentiment is in the eye of the beholder,” said Collins, of the Pilots Association. “Airports, once they go away, they don’t come back.”

Added Collins: “We’re not going to tell someone what they should or shouldn’t do with their property. We think it’s unfortunate that the airport may go away.”

Small airports disappearing

Pilots at the Flying W have made inquiries about hangar space elsewhere. They said they were told that the state-operated South Jersey Regional Airport in Lumberton, less than two miles from the Flying W, has a long waiting list for hangars. 

Liam Alderman, a South Jersey Regional employee, said that about 30 aircraft owners are on the waiting list for private hangar space and, at most, about two private hangars open up each year. He said the waiting list is shorter, about six, for a spot in a community hangar with other planes.

In the 1950s and 1960s, more than 100 small airports operated in New Jersey, said Frank Steinberg, a Somerville aviation lawyer who is chairman of the New Jersey Aviation Association, which lobbies for the interests of private aviation.

“That number has just consistently been whittled away over time,” Steinberg said. Now New Jersey has fewer than 40 smaller airports, which is “a very unfortunate trend and it’s a persistent trend over time,” he added.

Despite private aviation lobbying the state, New Jersey is “terribly underfunded right now in terms of money that can be used for airport infrastructure,” said Steinberg, who confirmed the statewide shortage of hangars.

Steinberg said the Flying W was viewed as unique in the flying community, almost like an “aviation country club.”

For many small airport owners, the lure of selling out to housing or commercial developers is a strong one, Collins said. Many operate “very much on a shoestring budget,” he added.

“It’s the equivalent of a highway gas station,” Collins explained. The small airports make money from selling fuel and parking aircraft.

Most of the private airports are built on relatively flat land, making them attractive to developers.

Small airports feed pilots to the airline industry

New pilots who earn their flying licenses at small airports across the nation are a key target for the airline industry seeking commercial pilots, both Steinberg and Collins said. The industry used to draw heavily from pilots who left the military, but those numbers have fallen off, Collins said.

“Small airports like Flying W are at the core of that training,” said Collins, who estimated that three-quarters of commercial pilots have come up from private, civilian training.

The demand for career pilots is skyrocketing, added Collins, who said many start out on regional airlines for $40,000 to $60,000 a year with a goal of being a captain on a large airliner. A captain with more than 20 years’ experience who flies international routes on large jets, such as the Boeing 777 or 787, can make close to $300,000 a year, he said.

Between 2020 and 2039, the worldwide demand for new pilots for commercial and business aviation will total 763,000, according to Boeing’s 2020 Pilot and Technician Outlook.

In the outlook report, Boeing said the downturn in the aviation industry was only a short-term symptom of the COVID-19 pandemic. “As the industry positions itself for recovery, adequate qualified pilot supply remains an important consideration as a large contingent of the workforce approaches mandatory retirement age,” Boeing stated in the report.

“Prior to the downturn, many airlines had begun utilizing cadet programs to recruit, develop and train aspiring pilots. It generally takes two or more years for an aspiring pilot to achieve a commercial pilot license,” according to Boeing.

Karl Kleinberg taught his sons, Karl Jr. and John, to fly at Camden County Airport, the private airport he owns in Berlin. John works at the airport, but Karl Jr. chose instead to fly commercial and now is a captain with United Airlines. However, he also helps out with airport operations.

Kleinberg took over the airport in 1970 from his father, who acquired it in 1954. His wife, Florence, also is involved in day-to-day operations at the Watsontown Road facility, which has a 3,100-foot runway. It is formally owned by the family company, Part Guy LLC, which is a global seller of aviation parts.

The waiting list for hangar space at Camden County Airport has only about six people on it, but the wait could be a long one — Kleinberg said only about two hangars open up each year.

At one time, seven private, small airports operated in Camden County, Kleinberg said, and today his is the only one left.

Many were sold for housing developments, something that has tempted the Kleinberg family, he said. Although developers have approached the airport to sell, there are no plans to close it at this time, he noted.

What to do with the planes

Abbas Reza of Medford retired a year ago after 31 years flying for United Airlines, the most recent years as captain of a Boeing 777.

Since October, Reza has housed his 1975 Citabria plane at the Flying W. He had the aircraft at the South Jersey Regional Airport, but they had no hangar space for him.

What would he do if the Flying W shut down?

“I have no idea,” Reza said. “I don’t know where I’m going to put it.”

Many of the pilots cannot keep their planes outside because sunlight can break down the fabric in the wings.

One couple, both pilots, live in Lumberton in the flight path of the Flying W. Mark Mattioli and Patty Anderson keep a 1970 Piper Cherokee 235 and a 1985 Christen Eagle aerobatic plane at the Flying W. Mattioli is a Washington lawyer and frequently commutes from the Flying W.

Mattioli said the housing development would be an “absolute nightmare” for that area of Medford and Lumberton.

One pilot at the Flying W with even more at stake is Morten Stoverud. He is a United Airlines Boeing 777 pilot but also operates Mort’s Aero Service Inc. at the Flying W.

Aircraft require regular maintenance. Pilots say inattention to maintenance on a plane is far different than inattention to a car. In a car, you can pull over to the side of the road if you break down.

Stoverud, who lives in Vincentown and employs two full-time employees, counts his customers among those who lease hangars at the Flying W as well as other pilots who fly in for maintenance and repairs.

“It’s an active and busy airport,” said Stoverud, who has been at the Flying W since the late 1980s. 

If the Flying W turns into a housing development, “I close down,” Stoverud said. “There is no place to go here.”

*Article courtesy of 70and73.com

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Redevelopment plan for 380 housing units on Flying W goes to Medford Planning Board on Wednesday

The long-planned redevelopment of the Flying W Airport & Resort property in Burlington County calls for 380 new housing units — including 181 age-restricted single-family homes — to be built on 107 acres.

A 44-page Redevelopment Plan by the Taylor Design Group Inc. of Mount Laurel dated March 15 will be considered by the Medford Planning Board meeting Wednesday at 7 p.m. The board will review the proposal for Township Council.

Plans for the site show 290 age-restricted, market-rate houses and townhouses and 90 rental affordable apartments for families, who are designated very-low-, low- and moderate-income households. Most of the Flying W, based at 60 Fostertown Road, is in Medford and part is in Lumberton.

Township Council in 2017 designated the property as an Area in Need of Redevelopment, a legal designation that provides for a long-term tax abatement in the form of a Payment in Lieu of Taxes (PILOT). The redeveloper would be the property owner, Cave Holdings – Flying W LLC, if approved by the township.

The Flying W was opened in the early 1960s by William C. Whitesell to support the business operations of his Flying W Airways Inc., whose operations included flying large cargo planes to support the development of Alaskan oilfields in the 1960s.

“The portion of the airport located in Medford contains scattered office buildings, hangers and outbuildings,” the redevelopment report states. “All these structures are in need of repair and/or rehabilitation and are obsolete and dilapidated.”

Taylor’s redevelopment report said “mandated repairs for certification and continued operation of the existing airport infrastructure are cost-prohibitive; and furthermore, are deferred.”

The report also states that usage of the airport has declined over time because of the “obsolete size” of its 3,496-foot runway in addition to competition from a neighboring airport that also caters to smaller planes. The size of the runway precludes “larger planes and jets from using the site,” the report states. The private Red Lion Airport, which has a 2,880-foot runway, is on Red Lion Road in neighboring Southampton.

Much of the acreage is open or wooded and would be developed. 

 Flying W Redevelopment Plan | March 15, 2021

“The open vistas of scattered buildings, expanses of fields, and wooded wetlands of the site along with the agricultural and large-lot residential surrounding properties will be altered, however, the plan seeks to retain vistas along Fostertown Road and cluster development outside of the environmentally sensitive lands, including forested wetlands and floodplains,” according to the report.

Under the redevelopment agreement, Township Council would need to review and approve the architectural plan for each housing type before subdivision plans go to the Planning Board.

*Article courtesy of 70and73.com

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey’s Clementon Park Goes to Auction After Lawsuit Alleges Default on $4.5M Loan

A shuttered 52-acre South Jersey amusement park is going to auction and being billed as a redevelopment opportunity after its owners allegedly defaulted on bank loans. 

Bidding on the storied Clementon Park and Splash World, which closed suddenly in September 2019, is scheduled for March 23 at the 114-year-old Berlin Road property. 

The auction listing on Capital Recovery Group’s website states the park could be auctioned off as a whole or piecemeal, with different bidding packages available for buyers of the rides and equipment, liquor license or real estate. 

It also states the sale is by order of a receiver, Howard Samuels, who did not return a request for comment Wednesday.

News of the auction comes just a day after TD Bank N.A. filed an amended complaint against Clementon Lake Holdings LLC and Clementon Lake Management LLC, seeking to foreclose on the property and asking the court to appoint a receiver to facilitate its sale. The lawsuit has not been previously reported.

The attorney representing TD Bank in the legal action, Timothy Duggan, declined to comment. The park’s owner, Oklahoma-based amusement park company Premier Parks, did not respond to a request for comment.

TD filed the initial complaint against the Clementon Park LLCs in October, a year after it alleges the owner stopped making payments on a $4.5 million loan and $1.25 million line of credit. 

According to the lawsuit, the LLCs owe more than $2.1 million in outstanding principal, interest and fees stemming from the $4.5 million loan, and more than $500,000 on the $1.25 million line of credit. 

Clementon Park was a longtime attraction for local families and field trips before its shuttered in 2019. At the time of the closure the complex was one of the oldest operating amusement parks in the world.

The park property spans more than 52 acres, including a 23-acre, spring-fed lake. The auction listing states the property also includes a 4,000 square-foot historic home on the site, as well as subdivided lots that could be used for a “mixed use commercial-residential redevelopment opportunity.” 

The rides themselves are able to be disassembled and fit into shipping containers. Some of the ones for sale include the Ring of Fire full loop ride, the Sea Dragon swing ride, and the Hellcat roller coaster, built with a steel frame and wooden deck. Family-style and kids rides, like the Tilt-a-Whirl, the Ferris wheel and mini-roller coaster the Dragon Coaster, are also up for sale.

An inspection for the property will be held on March 19, from 9 a.m. to 4 p.m. The auction will start at 10 a.m. on March 23. 

*Article courtesy of Philadelphia Business Journal

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Exclusive: Denver Developer Buys 45 Acres of Industrial Property in Burlington County

Denver industrial commercial real estate firm Black Creek Group bought two parcels totaling 45 acres in Burlington County, as demand for industrial properties in the area continues to rise. 

Sale prices for the two South Jersey parcels were not disclosed or immediately available in public records.  Black Creek Group’s deal includes a 35-acre parcel at 1517 Route 38 in Hainesport near the intersection with the Mount Holly Bypass. Atlantic Wood Industries was the seller. The property, currently used as a storage and distribution site for treated wood products, is located behind Mount Holly Nissan and a Travel Inn that sit on Route 38.

Black Creek — which owns and manages more than 47.1 million square feet of industrial space in 25 markets across the country — also purchased an adjacent 10-acre wooded property at 1499 Route 38 from a private landowner. 

Hainesport’s township committee is in the middle of declaring the 45 acres, as well as surrounding properties at 1513 Route 38 and 1521 Route 38, as an area in need of redevelopment. By adopting the plan the township will be able to offer developers of the properties financial incentives, like payment-in-lieu-of-taxes, or PILOT agreements. The redevelopment is scheduled for a public hearing and final vote on Feb. 16.

Development plans for the parcels were not immediately available. 

The 35-acre parcel was previously used for preserving wood products for industrial uses and will need environmental remediation to be redeveloped for commercial purposes, according to a preliminary review of the proposed redevelopment area conducted by Taylor Design Group on behalf of the township this past fall.

Most of the properties that border the Mount Holly Bypass and Route 38, on the border of Hainesport and Lumberton, are industrial. They include a metal recycling facility and an asphalt milling plant. 

A Starbucks recently opened at the intersection and across Route 38 sits a large shopping plaza anchored by a ShopRite and Lowes. The ShopRite side of the plaza, Cross Roads Plaza, sold for $18.25 million last year. Behind the plaza, CVS operates a 1.2-million-square-foot distribution center — one of its largest nationwide — that sits amid a half dozen other industrial and office buildings.  Black Creek has a Northeast office in North Jersey, just outside of New York, and owns numerous other properties in the Philadelphia region, including a distribution center on Meetinghouse Road in Philadelphia and a five-building industrial portfolio in King of Prussia. It also bought a 300,000-square-foot warehouse in Mount Laurel, Burlington County for $32.3 million last year.

The Hainesport property was attractive in part because of its proximity to the New Jersey Turnpike and I-295, the brokers said. Burlington County’s rich transportation assets have helped it draw more demand for industrial properties that can be used for warehousing and distribution. Net absorption for Class A industrial properties in the county grew 29% from 2019 to 2020, according to Lee & Associates, jumping from 2.1 million square feet to 2.7 million. 

In the past year alone, the brokers have also represented the seller of a 117-acre industrial site at 1900 River Road in Burlington Township for $110.5 million and the seller of a 30.8-acre industrial site at 839 Railroad Ave. in Florence for $14.75 million. Black Creek was also the buyer in the Florence sale and is in the midst of building a 300,700-square-foot warehouse on the site. 

*Article courtesy of Philadelphia Business Journal

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Land sales in South Jersey’s Moorestown, Medford Pave the Way for New Housing Developments

A pair of new housing developments are coming to South Jersey following the sale of two parcels of farmland in Moorestown and Medford this fall.

Separate developers are behind the projects, which come as demand for housing in suburban New Jersey continues to swell, partly in response to Covid-19 pushing people away from more densely packed urban areas. 

The Parkers Bend Retirement Community, a luxury 55 and over development, is set to span 32-acres near 650 Centerton Road in Moorestown. The site received final approvals from the township this summer and is located across from the Laurel Creek Country Club and adjacent to a commercial office building occupied by Comcast. Parkers Bend will include 130 units. 

Parkers Bend LLC is affiliated with Nebraska-based luxury retirement community developer Resort Lifestyle Communities. The company bought the land from Toll Brothers’ for $2.65 million in September after receiving the approvals. 

Bob Lewis, director of development for Cameron General Contractors, told the township planning board in July that the developer believes the project is a good fit for Moorestown. Cameron General Contractors will oversee the project. 

Lewis cited a statistic that said 80% of seniors within an 8-mile radius of the township wanted to move and were looking at those types of communities. Monthly rent for a unit will cost roughly $4,700, it said in its planning board application. The cost includes amenities and a free shuttle service to appointments. 

In order to meet Moorestown’s affordable housing requirement, Lawrencville, New Jersey-based Community Investment Strategies is building a three-story, 82 unit building of 100% affordable housing behind the Parkers Bend development. Called Heritage Village at Moorestown, the project will span 17 acres and include 76 one-bedroom apartments and six two-bedroom units. 

About eight miles away in Medford, a 300-unit apartment and townhouse development called Autumn Park is already underway on a 56-acre parcel at 22 Evesboro-Medford Road. 

Well-known area home builder Bob Meyer, who leads Bob Meyer Communities, secured approvals for the site. Meyer said Tuesday that he didn’t officially take the title for the property and instead sold the approvals to the current developer, Rochester, New York-based Autumn Park Urban Renewal LLC. 

The project includes building 254 apartment units across 10 buildings and 46 three-story townhomes on the site, located near the cross section of Route 70 and Old Marlton PIke. The development will also have 90 affordable units. Amenities include a pool, fire pits, clubhouse and dog park.  

Initial site development work has already started.

*Article courtesy of Philadelphia Business Journal

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

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Rising South Jersey Industrial Hub Primed to Add Another New Development

A new industrial development could be in the works for a 9-acre parcel of land in Burlington Township, where the ever-rising demand for warehouse and distribution space has made a stretch of Route 541 a new industrial hot spot. 

Peter Singh, an individual not tied to a development firm, bought the property at 1 Terri Lane from a limited liability company affiliated with homebuilder J.S. Hovnanian & Sons and is in the early stages of planning an industrial project for the site. A price was not disclosed and is not yet available via public records. 

Wolf Commercial Real Estate’s Ryan Barikian, who represented the buyer and seller in the deal, said Hovnanian owns land throughout the Burlington area and was looking to sell-off some of its smaller parcels. 

Despite its prime location just feet from Route 541 and in between entrances to both I-295 and the New Jersey Turnpike, the property at 1 Terri Lane was on the market for more than a year. The main issue, Barikian said, is that only roughly 3 acres are buildable land. The rest of the land is protected wetlands. 

“It’s not as big as people would think,” he said. 

While Singh is still in the initial stages of planning and has yet to submit any formal proposals to the township, it’s likely he’ll develop a small warehouse or distribution building, Barikian said. Projections show a roughly 30,000-square-foot building could fit on the site. 

While the area has long had an industrial presence -— the site is at the end of the Bromley Commons, a winding, midsize industrial park in the township — it’s seeing a new wave of larger developments seeking to take advantage of its prime location and the consistently strong demand for distribution space. 

Directly across from the Terri Lane site, South Carolina-based Johnson Development Associates is in the midst of building a new 267,000-square-foot warehouse called the Exit 5 Distribution Center. Johnson Development bought the 59-acre parcel at 107 Elbow Lane for $5 million in March and construction is underway.

“That will be big for the area,” Barikian said. “Obviously industrial has been really hot lately. It’s about the point and click we all do; they need a place to send all the materials that are going to be delivered to our houses.” 

The parcels are located across Route 541, or Burlington-Mt. Holly Road, from the shuttered Burlington Center mall. After the mall died a slow death, officially closing its doors in fall 2018, it was sold to Clarion Partners which is partnering with MRP Industrial to redevelop the site and build a mixed-use project that includes retail, industrial and residential elements. 

The mall sits near the border of Burlington and Westampton Township. Just over the border in Westampton, MRP is developing a 610,000-square-foot warehouse on a 43-acre property.

Barikian said the roadway is likely to continue to draw interest, given its location and ongoing development activity. 

“We don’t want to overdevelop, but that corridor is pretty prime for it considering how much open space there is and how close it is to the highways,” he said. 

*Article courtesy of Philadelphia Business Journal

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Plans for Tractor Supply store at Route 73 and Jackson Road go before Berlin Township board

An Alabama-based development firm’s application to build a Tractor Supply store on a six-acre wooded lot on the east side of Route 73 in Berlin Township goes before the Planning and Zoning Board next Tuesday.

The site plan and use variance application from HSC Berlin LLC is for the property that is bounded by Route 73 and Jackson and Hopewell Roads. HSC Berlin, a unit of development firm Hix Snedeker Companies of Daphne, Alabama, proposes the Tractor Supply outlet on land owned by Jackson Point LLC/Pagliuso of Stokes Road in Medford, according to state property records.

Tractor Supply — a retailer of home improvement, agriculture, lawn and garden and animal-care products — has 10 stores in New Jersey including Southampton, Hammonton and Sicklerville, according to its website. A developer had proposed a Tractor Supply and a Wawa near Route 73 and Kresson Road, but that was rejected by Voorhees in 2018.

The proposed store in Berlin would be almost totally surrounded by landscaping buffers and in an area of commercial developments and open land, according to the developer’s plans. Entrances and exits would be on Route 73 and Hopewell Road. The building would total 19,097 square feet with 77 total parking spaces.

*Article courtesy of 70 and 73

For more information about this South Jersey land for sale or about any other South Jersey commercial properties for lease or sale, please contact the team at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm. At 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Well-Located South Jersey Land for Sale near Marlton-Medford border

Wolf Commercial Real Estate, the foremost South Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, is now offering well-located South Jersey land for sale in Marlton near the border with Medford.

This land for sale in South Jersey is a +/- 1.6-acre parcel at 240 Taunton Lake Road Marlton NJ. There is zoning in place for a rural development opportunity at this land for sale in South Jersey.

This land for sale in South Jersey at 240 Taunton Lake Road Marlton NJ offers convenient access to Route 73 and this South Jersey land for sale sits along a highly trafficked road.

The asking sale price for this land for sale in South Jersey at 240 Taunton Lake Road Marlton NJ is $199,000. This South Jersey land for sale is available through Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm with expertise in South Jersey commercial real estate listings and services.

This land for sale in South Jersey offers excellent signage opportunities and this South Jersey land for sale at 240 Taunton Lake Road Marlton NJ is close to a number of retail shops, restaurants, professional businesses, and residential development.

Nearly 110,000 residents live within five miles of this land for sale in South Jersey.  The average household income in the same radius of this land for sale in South Jersey is $114,882.

For more information about this South Jersey land for sale at 240 Taunton Lake Road Marlton NJ or about any other South Jersey commercial properties for sale or lease, please contact Michael Scanzano (856-857-6386; mike.scanzano@wolfcre.com) or Luke Majewski (856-857-6303; luke.majewski@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for sale or lease through our South Jersey commercial real estate brokerage firm.