NEW JERSEY—Townsend Farms has purchased a 215,508-sq.-ft. manufacturing and cross-dock warehouse building located at 3501 South East Boulevard in Vineland for $2.1 million.
The property is located on approximately 10.66 acres and was originally constructed for the Rennoc Corporation as a garment manufacturing facility. A multi-million dollar renovation of the property will include raising the ceiling height, adding freezer space as well as processing equipment. General Mills leases a portion of the building and will remain as a tenant.
The property is located approximately one mile from exit 27 of Route 55 with easy access to the New Jersey Turnpike, I-295, all major East Coast Highways and is only 40 minutes to downtown Philadelphia; 55 minutes to Philadelphia International Airport, and less than two hours to New York City.
Binswanger represented the seller, Vineland Development Corporation, in the transaction. The transaction was handled by Marc Policarpo, senior vice president, in Binswanger’s Philadelphia office.
