Burton Real Estate Acquires 308 Connecticut Drive in Burlington, NJ

Wilton, CT – Burton Real Estate (BRE), an industrial real estate company headquartered in Wilton, CT and VanRock Properties has acquired 308 Connecticut Drive in Burlington, NJ.  The acquired 46,000 sf asset has maintained consistent occupancy of greater than 80% with a single tenant since 2003.  This is the companies third acquisition in just over a month totaling just over 250,000 square feet of product.

308 Connecticut Drive is situated in Burlington County, NJ which is New Jersey’s largest county and sits adjacent to Philadelphia, PA.  Joe Burton, President of BRE, states “Vacancy in the Metro Philadelphia area is at all-time lows. The impact of e-commerce on this market cannot be overstated. Burlington County alone has nearly 2 million sq. ft. of new industrial construction delivering in the coming quarter. We are excited to add another solid asset to our portfolio in one of the country’s strongest industrial.  The building has a long history of stable occupancy and is situated right on I-295.  From an attribute standpoint this acquisition checks nearly all the boxes we target when reviewing new prospective portfolio properties.”

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.

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.

About VanRock Properties
VanRock Properties is privately held real estate firm specializing in the management, consulting, repositioning and development of properties ranging all asset classes and varying sizes.

Contact
Joe Burton
joe.burton@burtre.com

 

Burton Real Estate Acquires 2 Testa Place in Norwalk, CT

Wilton, CT – Burton Real Estate (BRE), an industrial real estate company headquartered in Wilton, CT has acquired 2 Testa Place in Norwalk CT. This off-market transaction, centrally located in the heart of Fairfield Country, adds to BRE’s portfolio of value-add industrial assets.

2 Testa Place is situated in Norwalk, which is the 5th largest sub-market in Fairfield County. Joe Burton, President of BRE, states “Fairfield County is experiencing decreases in vacancy, positive net absorption and consistent increases in rent.  2 Testa is a very desirable property for us.  It’s currently fully leased, but the location, layout, and attributes of this building give us tremendous confidence that we will be able to add meaningful value over the coming years.”   This property is located within 1.5 miles of Interstate 95 (Exit 15) and has immediate access to service the 88,000 residents of Norwalk.

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.

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 focusing primarily in the Northeast corridor.

Contact
Joe Burton
joe.burton@burtre.com

 

Burton Real Estate Acquires 500 State Road in Bensalem, PA for $4.7 million

Wilton, CT – Burton Real Estate (BRE), an industrial real estate company headquartered in Wilton, CT in a partnership with VanRock Properties, a real estate company headquartered in Glen Rock, NJ has acquired 500 State Road in Bensalem, PA for $4.7 million. The approximately 85,000sf fully-leased industrial asset represents the third off-market transaction completed by BRE in 2018 in the Mid-Atlantic Region.

”The Mid-Atlantic region has been good to us in 2018.  We have been able to source multiple off-market, value-add industrial assets, which we consider to be our sweet spot.  The tenant demand continues to be robust, and the quality of assets, albeit limited, is very consistent,” said Joe Burton, President of BRE. “Overall 2018 was a great year from an acquisition standpoint, but more importantly we were able to create new value across nearly the entire breadth of our portfolio.”

Bucks County is located in the center of the Northeast Corridor, with Philadelphia serving as it’s closest major market served. New York City is only 75 miles; Baltimore, 120 miles; Washington DC, 158 miles; and Boston, 288 miles. Almost one-third of the nation’s population resides within a one-day drive of Bucks County.  “This is a great region for us.  We plan on this being one of our growth-focus areas well into 2019 and beyond”, added Mr. Burton.

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.

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.

About VanRock Properties
VanRock Properties is privately held real estate firm providing unparalleled, hands-on real estate services to maximize the value and return for their projects.   At VanRock, they believe that successful real estate transactions are founded on trust, transparency and honesty.

Contact
Joe Burton
joe.burton@burtre.com

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