Hines&Fiumara of CBRENational Ptrs. reps. DermodyProperties&PCCP American Realty Advisors acquires ind. asset in Central PA’s I-81 Corridor C ARL I SLE , PA — Amer i can Real ty Advisors announced
ISSUE HIGHLIGHTS Volume 28 Issue 5 March 11 - 24, 2016 Financial Digest Featuring 1031 Exchange
for investors by disposing the asset to Allen Distribution, a user that could take advantage of the current vacant space,” said Igor Derbaremdiker , director of dispositions at The Hampshire Cos. “Our ability to achieve the optimal return was based in part on our abil- ity to identify, ascertain and articulate the value related to the expansion opportunity which can be realized by the new owner. This disposition exemplifies the breadth and depth of our understanding of one of the nation’s preeminent industrial real estate markets. The building’s accessibility in an infill location, its proxim- ity to the buyer’s other assets, the remaining vacancy and its proximity to major population hubs along the East Coast made this opportunity even more attractive to the buyer.” Cushman & Wakefields ’ Gerard Blinebury , execu- tive director, Marie Connell , director and Samantha Ken- nedy , associate brokered the deal. n The facility is located one mile from I-81 at Exit 44 in Carlisle, which is widely considered the hub for super- regional bulk warehousing and distribution within the greater Central Pennsylvania region. Cannon notes that “the I-78 / I-81 Industrial Corridor has exhibited significant net absorption in the past several years – over 20 million s/f of industrial space was leased from 2014 through mid-2015. This area has become a Tier One East Coast inland mar- ket, with top industrial ten- ants including FedEx, Proctor & Gamble, Nordstrom, Geor- gia Pacific, and Walmart all occupying distribution space in the Corridor.” n between Dermody Proper- ties and PCCP, LLC , which was represented by Michael Hines and Brian Fiumara of CBRE National Part- ners .
the acquisi- tion of a mod- ern, cross - docked bulk warehouse/ distribution property lo- cated at 2 Ames Dr. in Carlisle. The class A build- ing , whi ch encompass- es 700,000 s/f on over 53 acres, is c u r r e n t l y 100 percent leased to a Fortune 50 tenant through 2024.
SADV Professional Showcase: The Best of the Best!
2 Ames Dr. in Carlisle
American’s industrial portfo- lio, as the purchase secures a high-quality, class A property that features a significant amount of recently-added landlord and tenant improve- ments. “This property is an ideal addition to our core industrial portfolio. The center’s great
location in a key logistics market, its high quality con- struction, and the fact that it is fully leased long-term to a credit tenant are three factors that we believe will provide our investors with an attrac- tive current income stream,” said Cannon. The seller is a joint venture
According to Eric Cannon , American’s senior director, Investments, this acquisition will make a great addition to
For speaking and sponsorship information, please contact: Linda Christman at 781-871-3456 or firstname.lastname@example.org Philadelphia Real Estate Capital Markets Summit April 14, 2016 New Jersey Office Summit UPCOMING CONFERENCES March 18, 2016 2nd Annual NJ Land Development Summit April 13, 2016
The Hampshire Cos. disposes 596,703 s/f industrial building in Mechanicsburg
MECHANICSBURG, PA — The Hampshire Compa- nies announced the sale of a 596,703 s/f industrial building located at 1225 South Market St. in Mechanicsburg to Allen Distribution. 1225 South Market St. sits on just over 100-acres, with 35.11 acres of excess land for future development, in Cumberland County in the
1225 South Market St
DelMarVa • DC...................................................5-14A SADV Professional Showcase..........................12-13A Financial Digest Feat. 1031 Exchange..............15-24A New Jersey................................................. Section B Pennsylvania.............................................. Section C
Central PA submarket. The location offers all components necessary for East Coast dis- tribution including a strong highway network, freight hubs, 3PL carriers, corporate neighbors, a developed labor force and government incen- tives. The property is also located within a 15-minute
drive of Harrisburg Interna- tional Airport and within a 20-minute drive from FedEx and UPS ground services. The building is primarily a one-story warehouse with a second story of office compris- ing 20% of the building. “We had the opportunity to achieve our projected returns
www.marejournal.com Upcoming Spotlights Best of 2015 POA Expo
Made with FlippingBook - Online Brochure Maker