{"id":1004202298,"date":"2018-01-04T06:10:51","date_gmt":"2018-01-04T14:10:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202298"},"modified":"2018-01-04T06:10:51","modified_gmt":"2018-01-04T14:10:51","slug":"devli-group-continues-acquisition-binge-in-nj","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/","title":{"rendered":"Devli Group Continues Acquisition Binge in NJ"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004202301\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202301\" data-attachment-id=\"1004202301\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/attachment\/15122\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"150 Mt. Bethel Road, Warren, N.J.\" data-image-description=\"&lt;p&gt;150 Mt. Bethel Road, Warren, N.J.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;150 Mt. Bethel Road, Warren, N.J.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg?w=1000\" class=\"wp-image-1004202301 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\" alt=\"150 Mt. Bethel Road, Warren, N.J.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202301\" class=\"wp-caption-text\">150 Mt. Bethel Road, Warren, N.J.<\/p><\/div>\n<p>Devli Group has acquired a two-building flex industrial property, and an excess of developable land in Warren, N.J., from The Hampshire Cos. The deal follows Devli\u2019s purchase of an <a href=\"https:\/\/www.commercialsearch.com\/news\/nj-industrial-buy-is-devli-groups-latest\/\">industrial campus in Hackettstown<\/a>, N.J., last October.<\/p>\n<p>The asset is located at 150 Mt. Bethel Road and features 122,000 square feet of space, suitable for warehousing and distribution, light manufacturing, scientific\/research labs, training\/conference facilities and office uses. Additionally, the property features\u00a026-foot clear ceiling heights, nine loading docks and 355 parking spaces.\u00a0<\/p>\n<h2>Desirable location<\/h2>\n<p>Located in the midst of New Jersey\u2019s Wealth Belt, an area along Interstate 78, the property offers easy access to Interstate 287. It is also equidistant from New York City and Pennsylvania, and 25 minutes from downtown Morristown and Newark Airport.<\/p>\n<p>Hampshire acquired the vacant property in 2010 from Goldman Sachs Asset Management, Yardi Matrix data shows. After successfully implementing an aggressive leasing strategy, it brought the property&#8217;s occupancy level to 88 percent, with the average lease term remaining being nine years.<\/p>\n<p>A Cushman &amp; Wakefield Metropolitan Area Capital Markets Group team comprising Andrew Schwartz, Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Ryan Larkin brokered the sale.<\/p>\n<p>\u201c<em>Today\u2019s investors are looking for properties with upside and 150 Mt. Bethel Road is a great illustration of this trend,<\/em>\u201d Larkin said in a prepared statement. \u201c<em>The pursuit of assets where value can be added\u2014whether through development\/redevelopment or lease-up\/re-tenanting\u2014is a common denominator in today\u2019s market.<\/em>\u201d<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hampshire Cos. sold the two-building flex industrial property located in Warren, N.J., in a sale brokered by Cushman &#038; Wakefield. <\/p>\n","protected":false},"author":241,"featured_media":1004202301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1600,21742,10],"tags":[32799,38019,35314],"class_list":["post-1004202298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-new-york","category-latest","category-northeast","tag-cushman-wakefield","tag-devli-group","tag-the-hampshire-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Devli Group Continues Acquisition Binge in NJ - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Devli Group Continues Acquisition Binge in NJ\" \/>\n<meta property=\"og:description\" content=\"The Hampshire Cos. sold the two-building flex industrial property located in Warren, N.J., in a sale brokered by Cushman &amp; Wakefield.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-04T14:10:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/\",\"name\":\"Devli Group Continues Acquisition Binge in NJ - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\",\"datePublished\":\"2018-01-04T14:10:51+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/devli-group-continues-acquisition-binge-in-nj\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/15122.jpg\",\"width\":1000,\"height\":750,\"caption\":\"150 Mt. 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