REBusinessOnline

CBRE Arranges $29.3M Sale of Industrial Portfolio in Runnemede, New Jersey

RUNNEMEDE, N.J. — CBRE has arranged the $29.3 million sale of Runnemede Corporate Center, a seven-building, 304,077-square-foot light industrial portfolio in Runnemede, located outside Philadelphia in Southern New Jersey. The sale included four development parcels with the capacity to house 125,000 square feet of new product. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Richards & Robbins, in the transaction. The buyer was industrial investment firm Faropoint. Tenants at the property include Stryker Orthopaedics, Cintas Corp., Scotts Lawn Service, GardaWorld and United Rentals Realty.

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