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Grad, Caliguire and Newton of the Philadelphia office arrange $2.175 million sale Sgambati, Cafiero & Collins of Marcus & Millichap’s NJ office complete $2.95 million disposition W www.marejournal.com M id A tlantic Real Estate Journal — Pennsylvania — Section C ARMINSTER, PA — Marcus & Mil- lichap announced
HI-LIGHTS JUNE 10 - 23, 2016 Ben Sgambati, Alan Cafie- ro and Chip Collins , invest- ment specialists in Marcus & Millichap's New Jersey office, had the listing to market the property on behalf of the seller, a private investor. The team secured and represented the the sale of The Learning Expe- rience, a 10,000 s/f net-leased property located in Warmin- ster, for $2.95 million, accord- ing to Brian Hosey , regional manager of the firm's New Jersey office. SPOTLIGHT 5-10C J.G. PETRUCCI CO. COMMENCES CONSTRUCTION OF PATRIOT STATION AT CHALFONT CENTRAL PA
Sentry Park East
The Learning Experience
buyer, also a private investor. Mark Taylor , broker, assisted in closing this transaction. The Learning Experience is located at 886 York Rd. The 10,000 s/f facility was newly constructed in 2011 and sits on almost two acres of property. BLUE BELL, PA —Marcus &Millichap announced the sale of Sentry Park East, a 24,000 s/f office property located in Blue Bell. The asset command- ed a sale price of $2.175 million. BENSALEM, PA — Roddy Inc. , the Bensalem based in- dustrial and commercial real estate brokerage firm repre- sented PhiladelphiaWater Ice Company in the purchase of a 40,000 s/f one story building situated on 2.2 acres located at 309 Camer Dr., State Rd. Industrial Park, Bensalem, Bucks County. Robert Olender of Roddy Inc., who represented Phil- adelphia Water Ice in the transaction, advised Phila- delphia Water Ice Company purchased the partially occu- pied facility to accommodate continued growth. As the facil- ity was partially occupied by several tenants at the time of the sale, it provided an excel- lent opportunity for Philadel- phia Water Ice to offset the cost of ownership with rental income. Philadelphia Water
Eric Grad , associate, Scott Caliguire , analyst, Dana Newton , senior associate, of Marcus & Millichap’s Phila- delphia office, had the listing to market the property on behalf of the seller. Grad and Newton also secured the buyer. The broker of record for this transaction is Brenton James Baskin . “This acquisition represented the buyer’s first venture into the office segment,” said New-
sulting and staffing firms with 76% occupancy. The property is strategically located with ease of access to the PA Tpke., situated in the Blue Bell office submarket. Blue Bell is one of the most prosperous areas in Montgomery County. “The buyer who was ulti- mately chosen was in a 1031 tax deferred exchange which allowed us to compress time- lines, closing this transaction in 35 days,” Grad concluded. n
ton, “We have a unique plat- form which caters to bringing capital from different product types to maximize proceeds for our seller.” Sentry Park East is located at 1710 Walton Rd., a three- story building with five con- dominium units. This sale represented one of the five office buildings within the condominium association. The tenants of the office building are a mix of accounting, con-
Roddy Inc. sells 309 Camer Drive, State Road Industrial Park, Bensalem, Bucks County, PA
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MCMURRAY, CCIM, SIOR OF NAI CIR REPS. OWNER IN LOWER PAXTON TWP. LEASE
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309 Camer Dr.
CREW Philadelphia Chapter .1C CREW Lehigh Valley Chapter .10-11C ALSO INSIDE www.marejournal.com
nationally. Headquartered in Bensalem Twp., Bucks County, Pennsyl- vania, Roddy Inc. is a mar- keter, manager and developer of industrial and commercial
real estate throughout eastern Pennsylvania and southern New Jersey. Their clients in- clude regional, national and international companies and financial institutions. n
Ice manufactures and distrib- utes high quality Italian ices, gelato, ice cream, and sorbet. The company delivers locally to Philadelphia and the sur- rounding suburbs and ships
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