C — February 8 - 21, 2013 — Pennsylvania — Mid Atlantic Real Estate Journal
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P ennsylvania
ITTSTON, PA — An affiliate of Endurance Real Estate Group, 1,000,000 s/f Interstate Distribution Center Endurance RE Grp. acquires whse. building for $5,257,500 P
LLC , (“Endurance”) an- nounced the acquisition of the Interstate Distribution Center, a 1,000,000 s/f warehouse/dis- tribution and manufacturing building situated on 233 acres of land. The Property was ac- quired in an off-market transac- tion for $5,257,500 or $5.51 psf. It is located in Northeast PA, approximately two miles from the Pittston, PA exits of I-476 and I-81, offering direct access to I-84, I-80 and I-380. “This acquisition is typical of the types of deals we are seek- ing to acquire; well-located, functional, bulk distribution buildings at an attractive basis significantly below replacement cost. We are confident that the robust leasing activity in the Kennett Square, PA — Lieberman Earley &Com- pany negotiated the sale of 17 acres of land at 498 Line Road located at the southbound exit ramp of US Route 1 & Newark Rd. JoAnn West , a senior sales associate with Lieberman Ear- ley & Company, and John Li- eberman , a principal, were the sole agents in the transaction between the owner, Continen- tal Bank and the buyer, Rocco L. Manfredi. Sale price of the property was $845,000. According to West, “the 17 acre property is strategically situated off US Route 1 with easy access to the large metro- politan areas of Philadelphia, Wilmington, Baltimore and Washington, DC”. Permitted uses include pro-
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Interstate Distribution Center
DPN
PA I-81/I-78 corridor industrial markets will present us with numerous opportunities to lease the balance of the build- ing as the low-cost provider
to logistic companies and/or manufacturers that can benefit from the in-place infrastruc- ture”, said Benjamin Cohen , president of Endurance. n
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Lieberman Earley & Company ink $845k sale
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498 Line Road
fessional office buildings, re- search laboratory, medical, educational instruction and
commercial school, retail store and medical clinics with a mini- mum of 5 acres. n
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