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A 110,000 s/f industrial property in Cherry Hill traded this week in a $7.6 million sale arranged by Cushman & Wakefield.

A 110,000 s/f industrial property in Cherry Hill traded this week in a $7.6 million sale arranged by Cushman & Wakefield. GTJ REIT, Inc. purchased the fully leased asset at 1938 Olney Ave. Following a long-term lease and local relocation of its primary distribution facility in 2016, the property's sole occupant, Avalon Flooring, invested in various improvements to the building. Cushman & Wakefield's Kyle Schmidt headed the sale assignment with Andrew Merin, David Bernhaut, Gary Gabriel and Brian Whitmer, Ryan Larkin and Andrew Schwartz--all members of the firm's East Rutherford, N.J.-based Metropolitan Area Capital Markets Group. The team worked with Philadelphia-based capital markets specialists Robert Yoshimura, Joseph Hill, Eric Mattson, and Joe Hill Jr. in representing the seller and procuring the buyer.

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Title Annotation:SALES
Comment:A 110,000 s/f industrial property in Cherry Hill traded this week in a $7.6 million sale arranged by Cushman & Wakefield.(SALES)
Publication:Real Estate Weekly
Date:Aug 16, 2017
Words:125
Previous Article:CBRE announced that its Tri-State Investment Properties team has completed three property sales across several asset classes.
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