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.