2B — March 16 - 29, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal
www.marejournal.com
WANTED REAL ESTATE AGENTS REAL ESTATE SALES COMMERCIAL REAL ESTATE PA, NJ, DE Investment & Industrial Sales Exclusive Territories: PA, NJ, DEL Real Estate License Required Send Resume to: RNatow@PrestigeGroup.com
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BINGTON, PA — Marcus & Millichap Real Estate Invest- Lonberger and Wellar reps seller Marcus &Millichap announce $1m sale of mixed-use units A
ment Services, announced the sale of 1061-1063 Easton Road, an 11-unit mixed-use property consisting of nine apartments and two retail spaces located in Abington, according to Spencer Yablon, Regional Manager of the firm’s Philadelphia office. The asset commanded a sale price of $1,000,000. The teamof Corey Lonberg- er and Ken Wellar, associate vice presidents out of Marcus & Millichap’s Philadelphia office, had the exclusive list- ing to market the property on behalf of the seller, a lim- ited liability company. The property sold for more than $90,000 per unit. According to Corey Lon- berger, “The excellent loca- tion and historically low WHITEHALL, PA — John Crampsie, principal at NAI Summit, recently negotiated two lease transactions at Riv- erside Business Center (1139 Lehigh Avenue) in Whitehall, totaling over 85,000 s/f. In the first transaction, Crampsie represented both the building owner, Whitehall Riverside LP, and the tenant
Richard Natow, President 610-902-3900 x 111 Commercial Real Estate
DPN
1061-1063 Easton Road
interest rates helped to drive this process. We generated numerous offers and the seller achieved an aggressive price for the owner.” Wellar
added, “This building will produce positive cash flow for the new owner for years, so both principals made a good deal.” ■ building owner, Whitehall Riverside LP, in leasing 29,281 s/f of warehouse space. The tenant, Parex USA, Inc., a subsidiary of ParexGroup, is one of the world’s leading manufacturers of specialty chemicals and ready-to-use mortars for the construction industry. This is Parex USA’s first Lehigh Valley location. ■
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Crampsie of NAI Summit leases 85,000 s/f in a 7 year lease renewal/ex- pansion of 58,874 s/f of ware- house space. The tenant, FL Smidth, is an international leading supplier of equipment, services and expertise for the cement and minerals indus- tries. FL Smidth also has a location in Bethlehem, PA.
In the second transaction, Crampsie represented the
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CONSTRUCTION UNDERWAY!
51-Acre Industrial Park For Lease or Build-to-Suit
The James Balliet Commercial Group “The Lehigh Valley’s Premier Full Service Commercial Real Estate Company” x Shopping Center Sales & Leasing x Retail, Office, Medical & Industrial Properties x Tenant Representation x Business Brokerage x Commercial Land Brokerage x Multi Unit Apartments x Distressed Property & Asset Management
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KW Commercial | 40 S. Cedar Crest Blvd.| Allentown, PA 18104 610-435-4711 www.lehighvalleycommercial.com
CBRE Inc. | 1275 Glenlivet Drive, Suite 120 | Allentown, PA 18106 | T.610.398.6900 | F.610.398.7815 www.cbre.com/allentown | Licensed Real Estate Broker
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