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CBRE announced the $29.37 million sale of Runnemede Corporate Center, a seven-building, 304,077 s/f light industrial portfolio serving the greater Philadelphia last-mile and regional distribution markets in Runnemede, New Jersey.
Richards & Robbins sold the portfolio, which includes four development parcels with expansion potential of nearly 125,000 s/f, to Faropoint, an industrial investment firm that has been actively engaged in the commercial real estate market of the Southeast, Mid-Atlantic, and Midwest regions of the United States.
The CBRE National Partners’ team comprised of Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki led the marketing efforts and represented the seller in the transaction.