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.
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.