Colliers is pleased to announce the sale of 7101 Airport Highway, Pennsauken, NJ to an entity associated with SNS Real Estate Investment Group. The transaction was led by Ian Richman of the Colliers Mount Laurel, New Jersey office. Terms are not disclosed.
The property is a vacant 30,266 square foot warehouse facility located in the Airport Industrial Park. The building features heavy electric service, fully air-conditioned warehouse space and a small fenced-in yard area, ideal for outside storage.
Sam Roney, Chief Investment Officer at SNS, said “SNS was very pleased to add this vacant value-add industrial property to wrap up its most recent portfolio, SNS Portfolio I. We are excited to continue working with Colliers as we execute our capital improvement plan and go to market to lease.”
Colliers has a long-standing track record of transactions within Pennsauken’s Airport Industrial Park. “Airport Industrial Park’s immediate access to three NJ state highways and location just minutes from the Ben Franklin Bridge to Philadelphia will continue to make this a valued location for user sale or investment activity and a driver to the future leasing.” noted Richman.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
