A cannabis cultivator, Beholy LLC, has secured a lease for a 95,000-square-foot industrial space at 220-224 Shreve St. in Mount Holly. This deal was facilitated by Zimmel Associates, which represented BMB Properties and Management LLC, the property owner.
The facility had been unoccupied for over nine months while listed with a different agency. Challenges such as low ceiling heights and limited access to major highways contributed to the vacancy. Additionally, its location outside of traditional industrial districts posed obstacles. However, the property’s zoning for cannabis operations, combined with its heavy power capacity and substantial air conditioning capabilities, made it an appealing option for cultivation.
David Zimmel, President of Zimmel Associates, led the transaction and highlighted the ability to find value in properties that others may overlook. He emphasized their understanding of both the market dynamics and the specific features of the property that attracted Beholy LLC. This strategic approach allowed them to close the deal efficiently despite previous setbacks.
Zimmel previously collaborated with the seller in a similar transaction involving a 100,000-square-foot industrial building in Branchburg. He stated, “This transaction demonstrates our ability to uncover value where others see limitations. By understanding the market and the property’s unique attributes, we were able to attract the right tenant and close the deal quickly.” With this lease, Beholy LLC is set to expand its operations and contribute to the growing cannabis industry in New Jersey.
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