Lee & Associates Brokers $110.5M Sale of Industrial Redevelopment Site in Burlington, New Jersey

BURLINGTON, N.J. — Lee & Associates has brokered the $110.5 million sale of a 116.8-acre industrial redevelopment site in the Southern New Jersey city of Burlington. The property currently houses a 1 million-square-foot warehouse that was previously occupied by the U.S. General Services Administration and will be decommissioned. The new ownership, a partnership between New York-based Clarion Partners and MRP Industrial, plans to build two Class A distribution centers on the site on a speculative basis. Bob Yoshimura, Joe Hill, Eric Mattson and Joe Hill Jr. of Lee & Associates represented the seller, Boston-based STAG Industrial, in the deal.

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