NAI Mertz’s Scott Mertz Closes Over 5 Million Square Feet of Industrial Transactions in Southern New Jersey in First Half of 2021

NAI Mertz, a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania, announced Scott Mertz, SIOR, President has closed sale and lease transactions in southern New Jersey totaling over 5 million square feet and $300 million in total volume.

Scott had three deals among the ten largest industrial lease transaction in the Philadelphia market in the second quarter of 2021 earning him CoStar Power Broker recognition.

“The southern New Jersey industrial market continues to flourish and finding the ideal properties for my clients continues to be challenging and rewarding at the same time,” stated Mertz. “Demand for industrial properties along the NJ Turnpike and major highways is strong, and continues to push vacancy rates down and increase rent prices. Now is a great time for owners to secure top-notch tenants, and for investors to add great value to their portfolios,” he added.

Transactions completed by Scott in the first half of this year include:

· The sale of 8 Queen Anne Court, a 237,867-sf distribution center in Langhorne, PA. The sale price was $33,190,294.

· The sale of 405 Heron Drive, a 254,220-sf industrial property in Logan Township. The sale price was $26 Million.

· The sale of 103-105 Gaither Drive, a 89,140-sf industrial property in Mount Laurel. The sale price was $10.9 Million.

· The sale of 123 Gaither Drive, a 42,852-sf industrial property in Mount Laurel. The sale price was $4.4 Million.

· The 768,750-sf lease of 3280 Route 206, in Bordentown to Aukey Technology. This was the largest new lease in the Philadelphia market in the second quarter.

· The 486,812-sf lease of 1950 River Road in Burlington to LC Logistic Services.

· The 266,966-sf lease of 105 Elbow Lane in Burlington to Western Post.