2C — March 13 - 26, 2015 — Pennsylvania — M id A tlantic

Real Estate Journal


P ennsylvania

Shelving Racks Pallet Jacks/Lifts Carts/Ladders Parts Bins Cabinets/Lockers

Mezzanines Conveyors & Cranes Modular Buildings Wire Partitions Matting/Rubbermaid

41,400 s/f mini storage in Gilbertsville, PA Investment Real Estate’s Barry reps. buyer in $2m sale


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


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

Condition Assessments

Due Diligence

400 Market Street, Suite 1250 Philadelphia, PA 19106 215.625.0099 1350 Connecticut Avenue NW, Suite 412 Washington, DC 20036 202.223.1941

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