Mid Atlantic Real Estate Journal — July 12 - 25, 2013 — A
www.marejournal.com
M id A tlantic R eal E state J ournal JLL & Landmark Comm’l. orchestrate transaction Dermody Properties sells 100,000 s/f to Select Capital
P
HILADELPHIA, PA — Dermody Proper- ties announced the
sale of a 100,000 s/f light industrial building located in Harrisburg to Select Capital Commercial Properties, Inc. The building is located at 7917 Derry St. in the heart of the largest industrial sub-mar- ket in the Philadelphia region. It is currently 92% leased to seven tenants, including DHL Express, Pyramid Con- struction and United Hospital Services. “The sale of the building fits our strategy of recycling capital into development op- portunities in key distribution markets in the U.S.,” said Douglas Kiersey, Jr. , presi- dent of Dermody Properties. “We were pleased to work with Select Capital on this trans- action, which benefited both parties.” With 35% of the U.S. popu- lation within a one-day drive, the location offers a strong advantage for tenants look- ing to capitalize on the area’s exceptional transportation and shipping hub access. Julie Trogner , associate broker at Jones Lang La- Salle , represented Dermody Properties, and Jason Grace of Landmark Commercial Realty, Inc. brokered the transaction on behalf of Select Capital Commercial Proper- ties, Inc. In other news, Dermody Properties andAlbert’s Organ- ics, Inc. celebrated the grand opening of the organic food dis- tributor’s new 70,000 s/f facil- ity. Dermody Properties served as the industrial developer and operating partner on the proj- ect, which is located in Logan Township, NJ and Stonemont Financial Group served as the financial partner. Construction on the facility began in October 2012 and was completed in April 2013. The facility, which serves as a distribution center for Albert’s Organics, is located in Der- mody Properties’ LogistiCenter at Logan, at 1155 Commerce Blvd., in Logan Township. “This project was a per- fect fit for Stonemont,” said Zack Markwell , principal at Stonemont Financial Group. “We are happy to see it come to fruition, and are proud to have partnered with Dermody Properties to develop such an excellent facility for Albert’s Organics.” n
7917 Derry Street
MMSON_MidlanticRealEstate_B&W_FINAL_Layout 1 4/5/13 1:08 PM Page 1
Don’t get burneD. get WHAt’S CoMIng to You. ®
M. MILLER & SON Over 50 Years of Committed Service to the Policyholder
FIRE | WATER | WINDSTORM | COLLAPSE COMMERCIAL, INDUSTRIAL, RESIDENTIAL
LICENSED PUBLIC ADJUSTERS | SINCE 1960 1211 Liberty Avenue Hillside, NJ 07205 Toll Free: 877.664.5537 www.mmillerson.com
PROUD MEMBERS OF
Made with FlippingBook Annual report