NEW JERSEY—Multi-Employer Property Trust (MEPT) has paid $36.125 million for the Kimberly-Clark Corporation Distribution Center located at 1150 Commerce Boulevard in the LogistiCenter in Logan Township, N.J.
Michael Hines, Michael Blunt, Brian Fiumara and Brad Ruppel of CBRE’s National Partners, along with William Goodwin of CBRE’s industrial brokerage group, represented the seller, Northwestern Mutual. MEPT was advised by its real estate advisor, Bentall Kennedy, on the acquisition.
Completed in 2009, 1150 Commerce Boulevard is a Class A warehouse/distribution facility in the Greater Philadelphia industrial market.
Situated on a 60.4-acre lot, the LEED Silver-certified facility contains 599,500 sq. ft., expandable by 192,500 sq. ft.
Features include a cross-dock configuration with full circulation, 32-ft. clear height, expansive column spacing, ample loading, 267 permanent trailer positions, T-5 lighting and ESFR sprinkler system.