P ennsylvania
S hopping C enters
Real Estate Journal — Pennsylvania — Section C
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M id A tlantic
Black CreekGroup purchases property fromEndurance &CenterSquare Investment Mgmt. Plower of JLL leads team in handling the sale of $42.5M distribution center totaling 456,810 s/f S HIREMANSTOWN, PA — JLL Capital Mar- kets arranged the $42.5
“We are thrilled to see this project through to comple- tion,“ stated Endurance senior vice president of development David Erlbaum . “This was a long project in the mak- ing—two years of being under contract working through a de-leasing effort of a partially occupied obsolete manufactur- ing and office building, procur- ing entitlements, followed by another two years working on the demolition and successful redevelopment and lease-up of the project.” “This infill location with best in class functionality paved the way to pre-leasing this asset in conjunction with the building completion,” added Endurance president Benjamin Cohen . Located in a core industrial location, the site is strategi- cally placed off of the Capital Beltway, providing access to the area’s regional highway network of I-81, I-83 and the PA Tpke.
million sale of 485 Distri- bution Cen- ter (485 DC), a 4 5 6 , 8 1 0 s/f distribu- t i on center in Shireman- s t o w n , t o Black Creek
John Plower
HI-LIGHTS OCTOBER 11 - 24, 2019 DAS ARCHITECTS COMPLETE EXPERIENTIAL HI-RISE THE HARPER IN PHILADELPHIA Group on behalf of the seller, a joint venture between Endur- ance Real Estate Group and CenterSquare Investment
485 DC
oped in 2018 to provide superior functionality for bulk distribu- tion. Features include 32’ and 28’ clear heights, ample trailer and car parking, LED lights, ESFR sprinkler system, and a 188’ truck court with a 60’ concrete apron.
26.9 acres. The sale presents Black Creek Group a stabilized property with impressive cash flow and logistics essentials including high loading capacity, dedicated trailer stalls and an ideal building depth of 300 feet. The property was redevel-
Management . JLL manag- ing director John Plower led the team in handling the sale, along with senior associate Ryan Cottone and managing director Jason Webb . 485 DC is a multi-tenant warehouse facility situated on
Olender of Roddy Inc. completes sale of 82,300 s/f facility in Hatboro for $5.5 million
HATBORO, PA — Roddy Inc. , industrial and com- mercial real estate brokers,
represented 2600 Turn- pike LLC in the acquisi- tion of 2600 Tp k e . Dr . , Hatboro. R o b e r t Olender , who
Robert Olender
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brokered the transaction, advised the 82,300 s/f facility was purchased for $5.5 mil- lion. 2600 Turnpike LLC is an entity related to MS Interna- tional Inc (MSI). The property was purchased to house MSI’s expanded operations. MSI is a nationwide dis- tributor of flooring, wall, and countertop surfaces. The company imports over 46,000 containers per year and man- ages an inventory over 125 million s/f of product used for counter tops, sinks, floor- ing, and decorative mosaics. MSI sources the globe for its
FEINBERG RE ADVISORS, LLC REPRESENTS BUYER FROM CONTACT TO CLOSING
2600 Tpke. Dr.
products and, through 25+ distribution centers, delivers them when, where and how their customers need them. Roddy Inc. represented Delaware Valley Shippers Inc. in leasing 16,000 s/f of warehouse space from Dunksferry Associates. Olender advised that Dela-
ware Valley Shippers Inc. leased the property to ac- commodate the company’s current and expected growth. Offering truck load and less than truck load (LTL) ship- ping options, Delaware Val- ley Shippers Inc. is a full service logistics provider with more than 35 years of
industry experience. Their goal is to provide customers with customized shipping so- lutions tailor made for one’s freight. Experience and repu- tation allows the company to present shipping solutions at the lowest rates available with top-quality customer service.
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