Voorhees-based real estate ownership and development firm Doors & Spaces Industrial has added a 32,850-square-foot multi-tenant, industrial-flex building to its growing portfolio with the $4.125 million acquisition of 476 Centennial Blvd. in Voorhees.
The deal was driven by Managing Partners Brian Whitmer, Jonathan Weinstein and Matthew Dietrick, meeting the firm’s focus on infill-located small-bay essential industrial properties with value-add potential.
The property on 3.3 acres was 100 percent occupied at the time of acquisition, offering inherent near-term and significant upside. Doors & Spaces intentionally targets properties of this kind that were previously owned for multiple decades, with high occupancy levels and a consistent history of high-level maintenance.
“We chose to acquire 476 Centennial as it offered unique competitive strengths and met our criteria for the quality of assets we want in our portfolio,” Whitmer told BINJE.
“This property has the trifecta of leasing flexibility provided by a drive-in door every 1,600 square feet, a retail-storefront facade, and zoning that permits a wide variety of uses.”
The decorative-block building, constructed in 1987, currently has eight tenants, 19 grade-level overhead loading doors, and separate utility metering. The highly functional layout offers future leasing options, along with 14-foot clear heights and an ample 116 parking spaces.
Its location in a high-traffic corridor allows it to blend traditional industrial functionality and retail visibility, attracting a diverse range of sales, distribution, experiential, and service firms.
Within a well-established Camden County/South Jersey infill space, the property offers convenient access to Routes 73 and 70, NJ Turnpike, and I-295. Driving times are 10 minutes from Cherry Hill, 25 minutes from Center City Philadelphia, and 30 minutes from Philadelphia International Airport.
