August 9, 2024 - Saxum Real Estate (“Saxum”) and Meadow Partners (“Meadow”), an institutional middle-market real estate investor, are proud to announce their acquisition of 1 Electronics Drive located in Hamilton Township, New Jersey. The low-coverage property is situated on 16 acres and features an 80,420 SF single-story flex industrial building that is 72.8% leased to three tenants,530 existing parking spaces (6.59/1,000 SF), and excess land providing optionality for future development. Saxum and Meadow plan to reposition and market the remaining available space in the building to accommodate a wide range of shallow-bay industrial and flex uses.

The property’s submarket – between Philadelphia and New York City with proximity to Princeton – provides attractive opportunities for a variety of uses including logistics, life sciences, and research and development. It is a particularly desirable location for shallow-bay and flex industrial uses, as its rich industrial heritage created a unique combination of affluent neighborhoods adjacent to pockets of historically blue-collar residential areas.

“Saxum and Meadow recognize the current availability for shallow-bay light industrial users throughout New Jersey remains scarce and view 1 Electronics as the ideal property to capture that demand. We are excited to leverage Saxum’s fully integrated platform to execute this value-add business plan and establish a new partnership with Meadow,” said Steve Feinberg, Director of Investments | Industrial.

“Originally constructed as a manufacturing facility, 1 Electronics represents an excellent opportunity to convert the property back to its historical use at an attractive cost-basis,” said Jeffrey Kaplan, Founder and Managing Partner of Meadow Partners. “We are thrilled to partner with Saxum to capitalize on significant tenant demand in the small-scale light industrial sector.”

The transaction process was led by JLL which represented the seller, BTR Capital Group. Zimmel Associates has been engaged as leasing agent to market the remaining vacancy.  

About Saxum

Saxum Real Estate is a national vertically-integrated real estate investment and development firm. Saxum’s portfolio includes a variety of asset classes with total capitalizations surpassing $3.0 billion with over 12MM square feet nationwide. Its development pipeline totals well over $1 billion in capitalization across cold storage, industrial, and multifamily investments ranging from value-add to ground-up development.

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About Meadow Partners

Based in New York and London, Meadow Partners is a $6.2 billion vertically integrated real estate investment manager specializing in global middle-market transactions. Since inception in 2009, Meadow has leveraged its unique platform to execute on investment opportunities across multifamily, office, industrial and retail investment on behalf of institutional investors globally. Meadow currently manages a series of commingled opportunistic funds, a perpetual life vehicle, and two core/core-plus separately managed accounts. For more information, please visit www.meadowpartners.com.

Media Contacts

Mark Semer / Grace Cartwright

Gasthalter & Co.

(212)257-4170

Meadow-Partners@gasthalter.com

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