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CBRE announced today the $21.95 million sale of 3254 N. Mill Road in Vineland, New Jersey, a fully leased 269,500 s/f regional distribution center located in Cumberland County.
The CBRE National Partners’ team comprised of Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki led the marketing efforts and represented the seller, Vineland Construction, in the transaction. The buyer was High Street Logistics Properties, a Massachusetts-based private equity firm.
“This property offers superior regional access from Baltimore to Boston and direct access to the Philadelphia and Southern New Jersey MSAs,” said Hines. “Leased to high quality tenants at below market rates with average remaining terms of less than three years, the property offers significant upside potential for the new owners.” ....

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