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M id A tlantic Real Estate Journal — Pennsylvania — Section C RSRRealtors negotiates on behalf of the buyer CBRE arranges sale of 250,000 s/f office campus in Harrisburg, PA
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430,373 s/f facility in Bensalem, PA Cushman&Wakefield brokers $23.7Msale of industrial complex B ENSALEM, PA — Cushman & Wake- field has orchestrated
HI-LIGHTS FEBRUARY 8 - 21, 2019 “Our team spent the past nine months working with the seller the $23.7 million sale of a 430,373 s/f warehousing and distribution center located at 450 Winks Lane in Bensalem. The seller, a private real estate investment firm, was repre- sented by Cushman & Wake- field’s team of Gerry Bline- bury and Jonas Skovdal , along with Gary Gabriel and Kyle Schmidt of the firm’s East Rutherford-based Capital Markets team.
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continue to foster the growth of their already successful company,” said Curran. “This campus allows them to improve the overall condition of their fa- cility, increase efficiencies, and accommodate future growth.” CBRE first vice president Michael Curran , along with William Krisztal and Nicho- las Westley out of CBRE’s Los Angeles South Bay office, represented the seller, TE Con- nectivity Corporation, during the negotiations while Garrett Rothman of RSR Realtors negotiated on behalf of the buyer.
HARRISBURG, PA — CBRE announced the sale of two office buildings, totaling 250,000 s/f, located at 100 and 200 Amp Dr. in Harrisburg. D&H Distribut- ing Co. acquired the two proper- ties for $8.2 million. D&H Distributing Co. is relocating its headquarters from 2525 North Seventh St. in Harrisburg, while TE Connec- tivity, who occupied the entire campus before the acquisition, will continue to partially occupy the premises. “D&H endeavored to es- tablish a location in Central Pennsylvania where they can
450 Winks Lane
to coordinate the sale of this highly-desirable property to a leading real estate, investment and development company in Philadelphia,” said Blinebury, executive managing director. “The newly-renovated complex boasts three long-standing tenants with extended, rent- stabilized leases, and offers accessibility to a sought-after suburban location supported by a rich, diverse labor pool in one of the nation’s most populous metropolitan regions.” Recent renovations to 450 Winks Lane, which was built in 1973, include the addition of a new roof and upgrades to the building’s mezzanine and land- scaping. The single story, class B industrial facility features ceiling heights with up to 40 feet of clearance; LED and T-5 lighting; 38 dock-high loading doors; 6 drive-in doors; 13,200 amp, 3-phase electric service; and a 2.54-acre parking lot capable of accommodating 450 vehicles. The building sits on 16.2 +/- acres in four quadrants and includes an additional 2.5 acres of macadam surfaced land. The property is home to National Refrigeration, Inc., RolledMetal Products, Inc. and Brenner Aerostructures, LLC, all of which have extended their leases within the recent past. Gerry Blinebury Jonas Skovdal
Gary Gabriel
Kyle Schmidt
J.G. Petrucci inks two acquisitions in the Lehigh Valley
Ideally situated in close prox- imity to the area’s extensive regional highway network, 450 Winks Lane offers excep- tional access to Rtes. 1, 73, 13 and 132 as well as I-95, which recently completed a $1.1 bil- lion infrastructure upgrade at the Neshaminy Falls toll plaza in Bensalem. Two SEPTA Regional Rail lines provide ad- ditional service to Center City Philadelphia from Bensalem Township. Southeastern Pennsylvania is experiencing a period of thriving economic growth. A recent study by the Chamber of Commerce for Greater Phila- delphia found that the region created nearly 60 percent of all new jobs and generated 39 percent of the state’s total revenues from 2013 to 2016. Cushman & Wakefield has re- cently reported vacancy rates of 4.2% in Southeastern PA and an even lower rate of 1.3% in Lower Bucks County. “Locations like 450 Winks Lane are becoming increas- ingly difficult to find in the greater Philadelphia market- place,” added Blinebury. “We worked diligently with the seller to facilitate the transac- tion and help the new owner recognize the long-term value and opportunities this asset has to offer.”
Pillar Real Estate Advisors facilitates 134,000 s/f cold storage/food processing plant
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Ground breaks at RIDC Innovation Ridge
tem equipped with nine com- pressors, +/- 12,000 s/f of -20 degrees Fahrenheit-capable frozen storage, +/- 58,000 s/f of refrigerated production space, spiral freezers, three silos, 9 loading docks and significant dry storage area with racking. “Our partnership with Jeff Counsel and Adam Ratajski of Global Food Properties is an ideal collaboration as it al- lows our food production and distribution facility clients the surety that all buyer and ten- ant prospects will be fully ex- plored” said Eric Kuhn , who along with Andrew Turner and Andrew Carlino , com- posed the brokerage team at Pillar Real Estate Advisors.
WEST CHESTER, PA — Pillar Real Estate Advisors , in coordination with Global Food Properties, brokered the sale of a 134,000 s/f cold storage and food processing facility, located at 700 Old Fern Hill Rd., West Chester, to a multinational joint venture group. Pillar Real Estate Advisors and GFP were able to identify a buyer which allowed their client to achieve market pric- ing and an expedited closing before the year’s end. The acquisition includes a fully operational frozen food production facility situated on 9.7 acres complete with an ammonia refrigeration sys-
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