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295 Burlington Business Center – Building 100 – Construction and Financing

  • Purchased fallow land that had been all but abandoned by previous owner
  • Site exhibited difficult conditions with soil and extensive wetlands as well as being subject to NJDEP water way standards and monitoring
  • Phase I: Executed a sale to Penske Trucking
  • Phase II: Executed leases to nationally known distribution companies
    • Subsequently met partner objectives by securing early lease termination for Draw Title, which was subleasing the space, and simultaneous sale to Melton Industries
    • Developed, leased, recapitalized and ultimately sold the site to net a 300% return in four years for the two sites
  • Phase III: Initiated partial improvements to protect permits; the balance is undergoing required approvals