Barrington, NJ

Barrington Business Center

Overview

The Property’s industrial space is fully-occupied by four large tenants with additional office/flex space vacant. Property also includes a separate tax parcel containing a cell tower, currently being used by three companies that provide additional income of nearly $100K annually. Formerly the regional headquarters for Owens Corning, the property underwent an extensive $18 million conversion in 2000 to a multi-tenant warehouse/ distribution center including new heating, ventilation, mechanical and plumbing systems. Investment presented an excellent value-add opportunity, with two of the tenants’ lease terms expiring in the next three years each of them currently paying significantly below-market rents. The business plan consisted of capital repairs at the property, HVAC, and roof; pushing rents towards market as terms expire, ultimately; refinancing or selling the property, as market conditions dictate.

Highlights

  • 2-Building Multi-tenant Industrial
  • Office Warehouse Flex Space
  • Total build Area 930,000 SF
  • 610 Parking Spaces
  • Frontage: East Atlantic Ave
  • On-Site Cell tower leased to 3 providers
  • 24 ft. Clear Heights
  • Year Constructed: 1956

Anchor Tenants

FedEx, PAE, CHEP USA, Camden International

1 million
Commercial Sq. Footage
1
Residential Units
1
Properties
1
Years in business
$ 1 billion
Assets
1
States