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New York & Tri-State  + New Jersey  + Industrial  | 

Johnson Development Plans Industrial in South Jersey

CBRE arranged the sale of a 59.29-acre industrial site at 107 Elbow Ln. in Burlington, NJ. Johnson Development Associates, Inc. acquired the property for an undisclosed sum, and plans to develop a 266,966-square-foot warehouse, to be known as Exit 5 Distribution Center.

A CBRE team of Dan McGovern, Paul Touhey and Drew Green arranged an off-market transaction between Johnson Development and the seller, Seacalco, LLC.

“This acquisition is another example of the robust demand from larger institutional industrial developers looking to acquire land and product in Southern New Jersey,” said McGovern. “We think this is a great purchase for Johnson Development Associates, who continues to expand their footprint in South Jersey, and our team is confident Exit 5 Distribution Center will be a tremendous success.”

The CBRE team will be representing Johnson Development in marketing and leasing the project. It’s slated for completion in the fourth quarter.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition
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