C&W Drives Fast Sale of Leased Industrial Portfolio
Two assets within the portfolio in a secondary market location were second-generation vintage. The seller had a desire to close the transaction by year end, driven by a significant tax impact.
Capital Markets professionals from Cushman & Wakefield offices in Northern New Jersey, Philadelphia, and Baltimore formed a best-in-class regional industrial investment sales group. Together, we marketed the portfolio as a core offering with a weighted-average remaining lease term of 7.29 years, highlighting its long-term tenant retention.
After processing 95 confidentiality agreements and nine bids, the transaction closed in 45 days to SK Realty & Management at a 7.20% cap rate.