A joint venture of Wharton Industrial and an investment fund affiliated with Walton Street Capital has acquired a 32-building industrial portfolio in Pennsauken, N.J., totaling nearly 1.2 million square feet of space.
Financial terms of the deal were not disclosed.
The seller was The Bloom Organization.
The properties are located immediately off state highways 73 and 130, and also offer access to Philadelphia via the Betsy Ross and Tacony-Palmyra Bridges. They were fully leased to 49 tenants at the time of sale.
The portfolio is composed of both the Twinbridge Industrial Park and Veterans Industrial Park in Pennsauken, and represents about one-third of all investment properties in Pennsauken, reported Philadelphia Business Journal.
