Burlington, NJ — CBRE announced that it has arranged the sale of a 59.29-acre industrial site located at 107 Elbow Ln. in Burlington, New Jersey. Johnson Development Associates, Inc. acquired the property for an undisclosed sale price. The CBRE team of Dan McGovern, Paul Touhey and Drew Green arranged an off-market transaction between Johnson Development and the seller, Seacalco, LLC. Johnson Development Associates has plans to develop a 266,966 s/f warehouse facility at the site called Exit 5 Distribution Center, which is expected to deliver during the fourth quarter of 2020. “This acquisition is another example of the robust demand from larger institutional industrial developers looking to acquire land and product in Southern New Jersey,” said McGovern, first vice president, CBRE. “We think this is a great purchase for Johnson Development Associates, who continues to expand their footprint in South Jersey and our team is confident Exit 5 Distribution Center will be a tremendous success.” READ MORE