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Cushman & Wakefield has arranged the sale of the Moorestown Distribution Center, a 272,682 s/f industrial asset located at 14 Sbar Boulevard, 10 miles from Center City Philadelphia. The final sale price was $23,250,000.
A Cushman & Wakefield team of Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema, with assistance from local leasing specialists John Gartland and Jonas Skovdal, represented the seller, the Piperno Family, owner of craft wholesaler Sbar’s. NorthBridge Partners acquired the asset.
“This sale marks a significant milestone after more than 30 years of business in Moorestown,” said Anthony Piperno. “We are excited to see the use of the building continue to support the economic development of the town and the local region.”