2C — March 13 - 26, 2015 — Pennsylvania — M id A tlantic
Real Estate Journal
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P ennsylvania
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41,400 s/f mini storage in Gilbertsville, PA Investment Real Estate’s Barry reps. buyer in $2m sale
G
i lbertsv i lle , PA — Investment Real Estate, LLC
Steve.Bixler@Indoff.com www.Indoff.com Contact:
announc ed the sale of Gilbertsville Mini St or - age located in Montgom- ery County. Gilbertsville is located 35 miles north- west of Philadelphia.
P: 610.518.1600 F: 610.518.1700 C: 610.506.1299
Steve Bixler Ind ustrial/ Off ice Products www.mh-partners.com
John Barry
John Barry of Investment Real Estate represented the seller and the buyer in the sale. The property sold this month for $2 million to a private self storage operator. The single story facility built in 2003, was in excellent condition and was over 90% occupied at the time of sale. Investment Real Estate assisted in the negotiation of a shared access agreement with the adjoining car wash to fa- cilitate the sale. The property consists of 41,400 s/f and holds 252 storage units and 8 outside parking spaces for recreational vehicles. Situated on 4.25 acres, Gilbertsville Mini Stor- age features electronic gates, security cameras, paved drive aisles and a U-Haul rental agency. n PITTSTON, PA — Demo- lition and site work are well underway at the Interstate Distribution Center, 140 In- dustrial Drive, Pittston with a targeted late spring deliv- ery of a pad-ready site for a state-of-the-art warehouse/ distribution facility. The prop- erty is fully entitled for up to a 1,506,000 s/f facility, which, combined with the location of the property at the confluence of I-476 and I-81, as well as the significant in-place utili- ties capacity, provides an ideal site for a major manufacturing or warehouse/distribution user in the highly desirable I-81 corridor of Northeastern Pennsylvania. The owner/developer, an affiliate of Endurance Real Estate Group, LLC , as well as Cushman & Wakefield as the sales/leasing agent are actively marketing the site for build-to-suit opportunities ranging from 500,000 s/f up to the fully entitled 1,506,000 s/f footprint. There is excess acre- age on the property providing for the future development of up to an additional 1.3 million
STRUCTURAL ENGINEERS
www.keasthood.com Philadelphia | Washington
Serving building owners, developers, real estate professionals, and architects since 1953.
Gilbertsville Mini Storage
Endurance commences demolition and pad-ready improvements for the Interstate Distribution Center
Renovations & Additions
New Construction
140 Industrial Drive
buildable s/f. Due to its prior use as a ma- jor manufacturing center by Techneglas, a television face plate manufacturer, the site has significant in-place utili- ties capacity including dual 69 kV substations, 12’’ water and sewer mains, ample gas service capacity and Class I rail infrastructure, providing utilities and transportation infrastructure unmatched by any other warehouse/distribu- tion/manufacturing develop-
ment sites in the region. According to Dan Walsh, director, Cushman & Wake- field, “The property is the beneficiary of major infra- structure investments by Techneglas. The site has its own electrical substation, rail siding and the ability to sup- ply large amounts of water, sewer and natural gas. The infrastructure and scale of this site clearly make it one of Pennsylvania’s premiere mega sites.” n
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