P ennsylvania
S hopping C enters
Real Estate Journal — Pennsylvania — 9A
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M id A tlantic
President Steve Bussel was responsible for the transaction and represented the tenant Bussel Realty Corp. leases 100,000 s/f to Poly Cube Company in Levittown, Pennsylvania L EVITTOWN, PA — Bussel Realty Corp. (BRC) , a corporate transaction and represented the tenant. Frank Greek Development is the owner of the property. Runway Drive in Levittown is a class A industrial facility that sits on 12 acres.
and indus- t r i a l r e a l estate ser- vices firm in New Jersey announced Poly Cube C o m p a n y has leased 100,000 s/f
Built in 1991, the property offers 28 foot ceiling heights, 40 feet by 42 feet column spacing, wet sprinklers, six tailboard and four rail doors for loading and ample park- ing. The property is near the in- tersection of I-276 and Route 13 and is in close proximity to I-295 with access to New Jersey and the New Jersey Turnpike. n “There is a strong demand in the market for modern indus- trial buildings in the 25,000 to 60,000 s/f size range,” said Marshall Soss, president and CEO of KarMar Realty Group. “The 10.5 acre site also allows for future expansion of the building”. “The building has direct ac- cess to Route 322 and Chich- ester Avenue and is minutes from Route 452 and Interstate 95,” said Justin Soss , execu- tive vice president and COO of KarMar Realty. The selling price was $4.2 million. n
“The class A space and stra- tegic location of the property in Levittown made perfect sense for Poly Cube’s plastic manufacturing business op- erations,” said Bussel. “We were happy to assist with helping the company locate a facility which will best serve the needs of its customers in the region.” Totaling 201,600 s/f, 30
Steve Bussel
HI-LIGHTS DECEMBER 12 - 18, 2014 of industrial space at 30 Runway Drive in Levittown. President Steve Bussel of BRC was responsible for the RIDC sells 68,000 s/f 2000 Technology Drive in Pittsburgh SPOTLIGHT Central PA 12-15A
30 Runway Drive
Karmar Realty brokers sale of 54,000 s/f property in Boothwyn, JLL represents seller, PX Properties
BOOTHWYN, PA — Kar- Mar Realty Group, Inc. rep- resented the buyer, Neltson Edison LP in the acquisition of a 53,733 s/f property in Boothwyn, PA. Jim McCahon of Jones Lang LaSalle (JLL) , represented the seller, PX Prop- erties LC. The property, located at 5 Chelsea Parkway, sits on 10.5 acres. The building was pur- chased as an investment with long term leases in place. Ac- cess Information Management occupies 47,233 s/f and Priority Express Courier leases 6,500 s/f. LANSDALE, PA — HLC Equity has purchased an 11,180 s/f property, located on a 1.2-acre pad at 10 W. Main St. in Lansdale. According to CoStar data, the purchase price was $4.063 million. The tenant, Rite-Aid, cur- rently occupies the building under a long-term triple-net- lease. The retail property was built in 1998. It receives a large amount of foot traffic as a result of its proximity to the Lansdale SEPTA rail station and other adjacent retail busi- nesses. In addition to its loca- tion, within walking distance of mass transit, the property also sits at a hard-signalized
5 Chelsea Parkway
10 W. Main St. “In this transaction, we were able to purchase an asset with a solid national tenant that has demonstrated a commitment to the property,” said Daniel Far- ber, Executive Vice President, HLC Equity. “This investment aligns with HLC Equity’s time- tested strategy of purchasing well located assets in core markets. The property was attractive given its transit-ori- ented location, its position as a primary street-retail corner amongst other local retailers, and the Lansdale community’s comprehensive master plan, which we feel will eventually make Lansdale an even more desirable place to live.” n HLCEquity purchases Rite-Aid totaling $4.063m in Lansdale intersection and offers off- street parking. Lansdale is a densely pop- ulated, upper-middle-class bedroom community in subur- ban Philadelphia. More than 14,000 people reside within a single-mile radius of the Rite- Aid store, This provides a large and long-standing customer base, and due to the town’s growth, its government is in the process of building a new, multi-million-dollar municipal center one block from the Rite Aid property.
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CREW Lehigh Valley Celebrates 10th Annual Meeting
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