Burton Real Estate Acquires 103 Central Avenue in Mt. Laurel, NJ for $6.3 million

Wilton, CT – Burton Real Estate (BRE), an industrial real estate company headquartered in Wilton, CT has acquired 103 Central Avenue in Mt. Laurel, NJ for $6.3 million. This off-market transaction, in one of the country’s premier markets, adds to the BRE portfolio of value-add industrial assets.

This expands BRE’s holdings to over 1 million square feet of industrial properties in North America. Joe Burton, President of BRE, states “The focus of BRE is the acquisition of properties that have the profile of 103 Central Avenue. 103 Central is a great asset that provides both flexibility and tremendous opportunity for adding long-term value in a great market. The New Jersey industrial market has experienced year-over-year rent growth of 9.8% with declining vacancy over the last several years. This Property is in the affluent “3M” area of Marlton, Mount Laurel, and Moorestown and has direct access to the New Jersey Turnpike (Exit 4) and Interstate 295 (Exit 36) in Burlington County. As long as we continue to see these types of values we will continue to react quickly and expand our portfolio.”

This acquisition adds another well-positioned industrial asset to the rapidly expanding BRE portfolio where they focus on maintaining and creating value in their properties. BRE achieves this through rigorous physical inspections, maintaining strong owner/tenant partnerships, developing careful financial budgeting, lease administration, expense control and overseeing a balanced risk management plan.

“NAI Metz” represented the seller in the transaction.

Contact
Joe Burton
joe.burton@burtre.com

About Burton Real Estate
Burton Real Estate is a privately held real estate investment firm specializing in the acquisition, management, and potential redevelopment of both performing and underperforming properties in the United States.

Burton Real Estate Announces $13M financing of 3-property industrial portfolio in New Jersey and Northern Virginia

Wilton, CT – Burton Real Estate (BRE) announces the $13 million financing of a three-property industrial portfolio totaling 176,472 square feet in core industrial markets located along the New Jersey Turnpike corridor and Northern Virginia.

Burton Real Estate worked with Holliday Fenoglio Fowler, L.P. (HFF), to secure a 10 year, fixed-rate loan with CUNA Mutual Group.   Each of the assets were acquired within the last three years and each of the properties were purchased with short term leases in place. Since BRE’s acquisition of each property, they have been able to engage their tenants and extend the respective lease terms allowing BRE to secure 10 year financing and free-up additional liquidity for similar transactions.

“This is the blueprint for growth in our industrial portfolio. We target the acquisition of properties nearing lease expiration in strong industrial real estate markets. Once identified we close quickly utilizing our line of credit and immediately start working with our tenants to garner incremental lease term. After we have secured incremental term, we obtain long-term debt and start working on our next deal.” said BRE President Joe Burton. “We are lucky to have partners like HFF and CUNA. CUNA was an eager and accommodating partner and was able to provide a very attractive rate and flexibility to add additional properties to the portfolio in the future.”

About Burton Real Estate

Burton Real Estate is a privately held real estate investment firm specializing in the acquisition, management, and potential redevelopment of both performing and underperforming properties in the United States.

Contact
Joe Burton
joe.burton@burtre.com

Burton Real Estate Acquires 405 Heron Drive in Swedesboro, NJ for $12.4 million

Burton Real Estate (BRE), an industrial real estate company headquartered in Wilton, CT has acquired 405 Heron Drive in Swedesboro, NJ for $12.4 million. This expands BRE’s holdings to over 1 million square feet of industrial properties in North America. Robert DePiero, Managing Director of BRE, states “the acquisition of 405 Heron Drive adds to our strategy of expanding our industrial footprint; it is precisely the type of property our portfolio is built on, it possess both a strong tenant base and ample opportunity to generate added value”.

This acquisition adds another well-positioned industrial asset to the rapidly expanding BRE portfolio where they focus on maintaining and creating value in their properties. BRE achieves this through rigorous physical inspections, maintaining strong owner/tenant partnerships, developing careful financial budgeting, expense control and overseeing a balanced risk management plan.

The “Flynn Company” represented the seller in the transaction.

Contact
Joe Burton
joe.burton@burtre.com