Jones Lang LaSalle

Bank Buys 64,000-SF Warehouse
By Eric Peterson
Last updated: February 27, 2006 09:35am

(To read more on the industrial market, click here.)
BURLINGTON TWP, NJ-FMS Financial Corp., the holding company for Farmer's & Mechanic's Bank, has purchased the 64,000-sf warehouse building at 2 Manhattan Dr. within the Crossroads Business Park here. The purchase price of $3.2 million factors out to $50 per sf.
The building's seller was PPPI LP, a local group. The transaction was brokered by Bill Goodwin, an executive vice president with CB Richard Ellis in Philadelphia.

Built in 1989, the bronze brick and masonry block building sits on a 5.4-acre site near I-295 in this South Jersey township. Farmer's and Mechanic's Bank is headquartered nearby at 3 Sunset Rd. and, according to Goodwin, will use the newly acquired building for the storage of office furnishings, equipment, supplies and related banking support functions.