Section B of the Mid Atlantic Real Estate Journal

Hines, Ruppel & Wolf of CB Richard Ellis represent the seller Endurance Real Estate Group affiliate acquires a $4.36m warehouse/distribution building


represented the landlord in the procurement of the tenant, a full-building user, RCMoore, Inc. which is a full-service logistics company that offers freight logistics, brokerage, contract, and over-the-road trucking. The seller was rep- resented by Michael Hines, Brad Ruppel, and Bill Wolf of CB Richard Ellis. The Property is well posi- tioned within the I-81/I-78 industrial corridor in north- eastern, Pennsylvania close

to the density of labor in the Scranton/Wilkes-Barre MSA and enjoys linkages to New York, Philadelphia, Allentown, and Harrisburg through prox- imity to I-476, I-81, and I-80. Endurance also recently ac- quired 420-480 DrewCourt—a 146,906 s/f warehouse/flex facility in King of Prussia, PA (November 2011) and 515 Zarfoss Drive—a 312,900 s/f classAwarehouse/distribution building in York, PA (Decem- ber 2011). n Spencer Yablon, regional man- ager of the firm’s Philadelphia office. The asset commanded a sale price of $2,500,000. Mark Thomson, associate vice president investments, and Zachary Pierce, associate, successfully executed the mar- keting of the property on behalf of the seller, a local private partnership. The buyer, a pri- vate investor from New York, was also procured by Zachary Pierce and Mark Thomson. The Dery Silk Mill is located at 101-113 Race Street. Of the 36 units, 23 are 1 bedroom, ranging from 800 to 900 s/f, and 13 are 2 bedrooms, rang- ing from 900 to 1000 s/f. The selling price of $2,500,000 com- manded $70,000 per unit. n

ITTSTON, PA — An affiliate of Endurance Real Estate Group,

LLC, ( “Endurance” ) an- nounced the acquisition of 301-305 Oak St. in Pittston, a class A warehouse/distribu- tion building totaling 289,277 s/f, situated on 17 acres of land (the “Property”). The Property was acquired for $4,360,000 or $15.07 per s/f. Put under contract while vacant, Endur- ance was able to land a tenant during due diligence. Bill Wolf

301-305 Oak Street

Thomson & Pierce also rep $2.5m sale Marcus & Millichap facilitates $3.5m sale of Northwyn Court Apartments

MARCH 16 - 29, 2012


WESTCHESTER, PA—Mar- cus &Millichap Real Estate In- vestment Services, announced the sale of Northwyn Court Apartments, a 32 unit apart- ment property located in West Chester, according to Spencer Yablon, regional manager of the firm’s Philadelphia office. The asset commanded a sale price of $3,500,000, or $109,375 per unit. Mark Thomson, associate vice president, and Zachary Pierce, associate, both out of the Philadelphia office of Mar- cus & Millichap were hired by the buyer to approach the owner and initiate a transac- tion. Northwyn CourtApartments is located at 803 East Boot

Marcus &Millichap announce $1m sale of mixed-use units

Marcus & Millichap Real Estate Investment Ser- vices, announced the sale of 1061-1063 Easton Road, an 11-unit mixed-use prop- erty consisting of nine apartments and two retail spaces located inAbington. See page 2B.

Northwyn Court Apartments

Road in West Chester. The property consists of 32 units with a balanced unit mix of 16 one bedroom and 16 two bedroom apartments. In other news, – Marcus & Millichap Real Estate Invest- ment Services, announced the sale of The Dery Silk Mill, a 36 unit apartment property locat- ed in Catasauqua, according to

CBRE brokers $875,000 sale of 50,000 s/f industrial building

Representing the owner, M.C. Et al, CBRE Inc. (CBRE) recently sold a 50,000 s/f industrial build- ing and site at 415 S. Penn Street in Clifton Heights, PA. See page 3B.



C ENTRAL PA S POTLIGHT ............................................... 5-12B P ROJECT N EWS .................................................................13B CREW L EHIGH V ALLEY ............................................. 14-15B


Section B, 20 pages

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