P ENNSYLVANIA
S HOPPING C ENTERS
Section C of the Mid Atlantic Real Estate Journal
Blunt, Hines, Ruppel & Touhey of CBRE represents the seller Brasler Properties, Endurance RE & Thackeray Partners sell a $17.050m industrial facility
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HILADELPHIA, PA — CBRE National Partners is pleased to
STAG Industrial of Boston, Massachusetts acquired the property. The Property sold for $17,050,000 or $43 psf. Premium Business Cen- ter is a 400,414 s/f, highly functional facility contain- ing quality warehouse, distribution and produc- tion space which is 100% leased. There is also a 6.5 acre parcel located along the southern property line which will accommodate +/- 85,000 s/f of expansion or a freestanding building. Approximately 208,000 s/f of the Property was developed in 1999 and a 13,500 s/f rail dock addition constructed in 2010. This section under- went an extensive interior
and exterior renovation in 2011. This recent renovation was a result of the strate- gic customization of space for Packaging Corporation of America who recently signed a 15-year lease at the Property. The remain- ing 171,878 s/f is occupied by Termaco USA and Fiber- Mark. The Property is well- located at the interchange of US Routes 222 and Route 61 providing excellent local and regional access. I-78 intersects with Route 61 just north of the Property. I- 78 is a critical highway system which merges with I-81 to the west and provides direct access to the Ports of NY/NJ to the east. n
announce the sale of Premi- um Business Center located at 171-173 Tuckerton Road in Muhlenberg Township, Berks County, Pennsylva- nia. CBRENational Partners represented the seller, a lim- ited partnership comprised of Endurance Real Estate Group of Bala Cynwyd, PA, Brasler Properties of Phila- delphia, PA and Thackeray Partners of Dallas, TX. The transaction was led by Mi- chael Blunt, senior vice president, Michael Hines, executive vice president, Brad Ruppel, associate and Paul Touhey, vice president.
171-173 Tuckerton Road
Haines & Smith of NAI Summit reps buyer and seller in $795k sale NAI Summit reps seller in $4.2m disposition of 30 acres of land
JUNE 8 - 21, 2012
HI-LIGHTS
BETHLEHEM, PA—John Crampsie, principal at NAI Summit, recently represent- ed the seller in the disposi- tion of 30 acres of land at 10 Emery Street, Bethlehem. The sale price of the transac- tion was $4,200,000. The buyer was Liberty Property Trust, LP. “Lib- erty’s purchase of 30 acres is yet another example of their positive outlook on the Lehigh Valley market in general and the particular attractiveness of LVIP VII,” said Crampsie, who repre- sented the seller.
Llenrock Group secures $9.75 million in financing Llenrock Group, an in-
dependent advisory firm in Philadelphia, has secured a total of $9.75 million in permanent financing for a Courtyard by Marriott. See page 5C.
10 Emery Street
NAI CIR handles $3,426,250 office sale
In other news NAI Sum- mit recently represented both the buyer and seller in the
sale of 1610 Emmaus Ave. The sale price of the transac- tion was $795,000. n
METAL BUILDING RE-ROOFING
NAI CIR announces Lin- lo Properties VIII, LP, an investment group based in Cumberland County, PA, has purchased the 68,525 s/f, 3 story office building for $3,426,250. See page 5C.
ALSO INSIDE:
METAL SYSTEMS
C ENTRAL PA S POTLIGHT ............................................... 5-13C CREW L EHIGH V ALLEY ...................................................14C PA P ROJECT N EWS ...........................................................15C PA P EOPLE N EWS .............................................................16C
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