REBusinessOnline

ASB, Endurance Acquire Industrial Complex Near Pittsburgh for $38M

SEWICKLEY, PA. — A joint venture between Washington, D.C.-based ASB Real Estate Investments and an affiliate of Endurance Real Estate Group LLC has acquired a 408,000-square-foot industrial complex in Sewickley, roughly 10 miles northwest of Pittsburgh, for $38 million. The seven-building complex was 99 percent leased at the time of sale to companies such as Amazon, Verizon and Chrysler. CBRE represented the seller, Bentall Kennedy, a subsidiary of Sun Life Investment Management, in the transaction. The sale included three undeveloped parcels for future expansion.

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