{"id":1004729294,"date":"2024-09-18T02:41:42","date_gmt":"2024-09-18T10:41:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004729294"},"modified":"2024-09-18T02:51:40","modified_gmt":"2024-09-18T10:51:40","slug":"mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/","title":{"rendered":"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1016\" height=\"763\" data-attachment-id=\"1004666314\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/artemis-jv-pays-81m-for-mid-atlantic-logistics-center\/ace-logistics-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\" data-orig-size=\"1016,763\" 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=\"Ace Logistics Center\" data-image-description=\"&lt;p&gt;Exterior shot of Tower Logistics Center in Aberdeen, Md.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Ace Logistics Center. Image courtesy of MCB Real Estate&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg?w=1016\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\" alt=\"Exterior shot of Tower Logistics Center in Aberdeen, Md.\" class=\"wp-image-1004666314\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg 1016w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 1016px) 100vw, 1016px\" \/><\/a><figcaption class=\"wp-element-caption\">Last year, a joint venture between MCB Real Estate, Artemis Real Estate Partners and Ace Logistics Services purchased an 859,900-square-foot industrial facility in Aberdeen, Md. <em>Image courtesy of MCB Real Estate<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>MCB Real Estate has acquired Howell 1, a 368,000-square-foot industrial facility in Howell Township, N.J., for $69.9 million. Active Acquisitions sold the asset, according to CommercialEdge information.<\/p>\n\n\n\n<p>The new owner also signed a 15-year, full-building leasing agreement with a third-party logistics company operating in California and New Jersey.<\/p>\n\n\n\n<p>The Class A property came online in February last year. In August 2022, the developer obtained a $59.8 million construction loan from Terra Capital Partners for this project, the same source shows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/new-jerseys-industrial-market-shows-bright-spots\/\">New Jersey\u2019s Industrial Market Shows Bright Spots<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Howell 1 has 38-foot clear heights and features 72 dock-high loading doors, 105 car parking spaces, four drive-in doors with ramps and 72 trailer stalls. The facility also has more than 9,000 square feet of dedicated office space.<\/p>\n\n\n\n<p>The nearly 37-acre property is at 400 Fairfield Road, providing access to Highway 33 and Interstate 195. It is also some 60 miles from central Philadelphia. JFK International Airport is 63 miles northeast, while the Port of New York and New Jersey is within 41 miles.<\/p>\n\n\n\n<p>Active Acquisitions is currently working on Howell 2, an adjacent industrial campus that will total about 504,000 square feet upon completion. Two buildings are planned, measuring 369,242 and 134,714 square feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-ranks-high-for-industrial-sales\">New Jersey ranks high for industrial sales<\/h2>\n\n\n\n<p>New Jersey saw almost $1.2 billion in <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-transactions\/\">industrial investment volume<\/a> year-to-date as of July, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-socal-industrial-market-faces-temporary-slowdown\/\">CommercialEdge industrial report<\/a>. Assets traded on average for $237 per square foot, ranking as the fourth most expensive U.S. market. The national average stood at $135 that same month.<\/p>\n\n\n\n<p>Last month, B&amp;D Holdings <a href=\"https:\/\/www.commercialsearch.com\/news\/bd-holdings-buys-new-jersey-industrial-asset\/\">acquired Brunswick Industrial Campus<\/a>, a six-building property in New Brunswick, N.J. Development Management Services sold the 206,069-square-foot asset after holding it for three years.<\/p>\n\n\n\n<p>Another notable deal in the market was Brookfield Properties\u2019 purchase of 300 John F. Kennedy Blvd. E., a 311,950-square-foot warehouse in Weehawken, N.J. The asset traded for $217 million, about $695 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 368,000-square-foot property came online recently.<\/p>\n","protected":false},"author":3355,"featured_media":1004666314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,10],"tags":[49291],"class_list":["post-1004729294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-northeast","tag-mcb-real-estate"],"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>MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"MCB Real Estate acquired Howell 1, a 368,000-square-foot vacant industrial facility in Howell Township, N.J., for $69.9 million.\" \/>\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\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease\" \/>\n<meta property=\"og:description\" content=\"MCB Real Estate acquired Howell 1, a 368,000-square-foot vacant industrial facility in Howell Township, N.J., for $69.9 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/\" \/>\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=\"2024-09-18T10:41:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-18T10:51:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1016\" \/>\n\t<meta property=\"og:image:height\" content=\"763\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/\",\"name\":\"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\",\"datePublished\":\"2024-09-18T10:41:42+00:00\",\"dateModified\":\"2024-09-18T10:51:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"MCB Real Estate acquired Howell 1, a 368,000-square-foot vacant industrial facility in Howell Township, N.J., for $69.9 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg\",\"width\":1016,\"height\":763,\"caption\":\"Ace Logistics Center. Image courtesy of MCB Real Estate\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\",\"name\":\"Vicentiu Fusea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"caption\":\"Vicentiu Fusea\"},\"description\":\"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease - Commercial Property Executive","description":"MCB Real Estate acquired Howell 1, a 368,000-square-foot vacant industrial facility in Howell Township, N.J., for $69.9 million.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/","og_locale":"en_US","og_type":"article","og_title":"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease","og_description":"MCB Real Estate acquired Howell 1, a 368,000-square-foot vacant industrial facility in Howell Township, N.J., for $69.9 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-09-18T10:41:42+00:00","article_modified_time":"2024-09-18T10:51:40+00:00","og_image":[{"width":1016,"height":763,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg","type":"image\/jpeg"}],"author":"Vicentiu Fusea","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/","url":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/","name":"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg","datePublished":"2024-09-18T10:41:42+00:00","dateModified":"2024-09-18T10:51:40+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412"},"description":"MCB Real Estate acquired Howell 1, a 368,000-square-foot vacant industrial facility in Howell Township, N.J., for $69.9 million.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg","width":1016,"height":763,"caption":"Ace Logistics Center. Image courtesy of MCB Real Estate"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/mcb-pays-70m-for-new-jersey-facility-lands-full-building-lease\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"MCB Pays $70M for New Jersey Facility, Lands Full-Building Lease"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412","name":"Vicentiu Fusea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g","caption":"Vicentiu Fusea"},"description":"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. He has joined the CPE-MHN team in 2023. Vicentiu writes stories mainly focusing on the student housing, office and MOB markets. You can reach out to him at vicentiu.fusea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/vicentiu-fusea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/Ace-Logistics-Center-e1686044445769.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004729294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3355"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004729294"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004729294\/revisions"}],"predecessor-version":[{"id":1004729346,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004729294\/revisions\/1004729346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004666314"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004729294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004729294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004729294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}