Penwood Real Estate Acquires Warehouse in Bordentown, New Jersey for $60M

BORDENTOWN, N.J. — Penwood Real Estate has acquired a 275,631-square-foot warehouse in Bordentown, a suburb of Trenton, for $60 million. Building features include a clear height of 24 feet, 16 tailgate doors, 9,108 square feet office space and parking for 80 cars and 120 trailers. In addition, the 39-acre site at 201 Elizabeth St. features four acres of outdoor storage space and can support an additional 140,767 square feet of new construction. Steven Schultz, Steve Tolkach, Kyle Eaton and Tony Georgiev of Newmark represented the seller, O’Donnell Group, in the transaction.