4C — December 14 - 27, 2018 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania Located in Malvern, the asset sold for $5.75 million Grad and Mobin of Marcus & Millichap execute sale of 40,000 s/f net-leased office building
M
in 2006, it is the only building in the office park that is not owned by a large REIT. The buyer was in a 1031 exchange. “The sale of Montgomery County Intermediate Office reiterates the high demand and interest for stable net- leased office properties in the PhiladelphiaMSA,” said Grad. “The Malvern submarket and general area are extremely desirable, from both an occu- pant and ownership point of view. The attractive cap rate and purchase price signify a robust marketplace where transactions can be completed
through speedy bidding and closing process.” Montgomery County Inter- mediate Office is located at 333 Technology Dr. The office is used for educating and train- ing public school employees. Anthony Palumbo is the broker of record for Pennsyl- vania. The Bill Gladstone Group of NAI CIR ink 11,744 s/f in transactions LOWER PAXTON TWP., PA — NAI CIR completed the following PA transactions: 1,172 s/f of retail/office space was sold for use as a nail sa- lon at 5441 Jonestown Rd. in Lower Paxton Twp. The Bill Gladstone Group of NAI CIR represented the seller and Patty Fortney-Julius of EXPRealty LLC represented the buyer. 4,700 s/f of office and ware- house space at 142 Reno St., New Cumberland was leased to RestoreTeam Home Alli- ance, LLC. The Bill Gladstone Group of NAI CIR represented the lessor and Andy Kohr of Landmark Commercial Realty, Inc. represented the lessee. Primartis Corporation has leased an office suite at 800 N. Third Street in the City of Har- risburg. The Bill Gladstone Group of NAI CIR facilitated the transaction. The 1,100 s/f office space located at 3619 Walnut St. in Harrisburg has been leased by Davis and Associates, LLC. from Mike Murphy Rentals. Pete Higgins of NAI CIR, handled the transaction. The 1,800 s/f office space lo- cated at 6 Kacey Court in Me- chanicsburg has been leased by Collective Intelligence, Inc. from Young Groves Proper- ties, FLP . Collective Intelli- gence is a IT service provider. Daniel Alderman of NAI CIR, represented the landlord. The 3,192 SF office space located at 17 South 19th St. in Camp Hill Borough has been purchased by Smith Land and Improvement from CJSPT LP. Alderman handled the transaction. The 10,200 s/f industrial space located at 3101Wayne St. in Harrisburg has been leased by CCE Parts Corporation from Bernardi Brothers. Alderman handled the transaction.
ALVERN, PA — Marcus & Millic- hap announced the
sale of Montgomery County Intermediate Office - Unit 23, a 40,000 s/f net-leased office building located in Malvern. The asset sold for $5.75 mil- lion. Eric Grad , in Marcus & Millichap’s Philadelphia office and Alex Mobin , in Marcus & Millichap’s Newport Beach of- fice had the exclusive listing to market the property on behalf of the seller, a developer and property owner. The seller had purchased the building
Montgomery County Intermediate Office - Unit 23
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