WILKES-BARRE, PA. — NAI Mertz has brokered the $4.2 million sale of a 225,000-square-foot industrial property in Wilkes-Barre, located approximately 120 miles west of New York City. The buyer, pipe distribution company PSI, plans to renovate the property to the tune of $9 million and add a new pipe mill. David Weaver and Stephen Cole of NAI Mertz represented the seller, Medley Investments, in the transaction. Elijah Miller of Hinerfeld Commercial Real Estate represented PSI.
MONTGOMERYVILLE, PA. — An affiliate of raw materials distributor Panadyne Inc. has acquired an industrial center in Montgomeryville, a northern suburb of Philadelphia. Panadyne will occupy approximately 50 percent of the 22,000-square-foot facility, which features 17-foot ceiling heights and 1,500 square feet of office space. Frank Roddy of Roddy Inc. represented Panadyne in the transaction.
PHILADELPHIA — NAI Mertz has negotiated an 11,250-square-foot industrial lease in Philadelphia. The tenant, Rodan Enterprises LLC, will use the facility to house its company, SureShade, a designer and manufacturer of innovative marine sunshade systems. The space is located within a 75,000-square foot industrial building with 25-foot ceiling heights, one drive-in door and one tailgate door. Joe Sternberg of NAI Mertz represented the landlord, Onyx Partners, in the lease negotiations.
UPPER MACUNGIE, PA. — UL Verification Services, a global safety science firm, has renewed a 38,510-square-foot industrial lease in Upper Macungie, located approximately 55 miles northwest of Philadelphia. The space is situated within a 96,235-square-foot industrial building at 7036 Snowdrift Road. that is part of the Iron Run Business Campus. The property offers immediate access to I-78 and the Pennsylvania Turnpike. Jody King of CBRE represented UL Verification Services in the lease negotiations. Sean Bleiler of CBRE represented the landlord, Denholtz Properties.
BRIDGEVILLE, PA. — Resort Lifestyle Communities has opened Chartiers Bend Retirement Resort, a 128-unit independent living community in Bridgeville, a southwestern suburb of Pittsburgh. The community offer studios, one-, two- and three-bedroom units for residents aged 55 and over. Amenities include an on-site bank, a 150-seat theater and salon. Resort Lifestyle Communities is the developer and operator of the property.
WILKES-BARRE, PA. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Little Flower Manor and St. Luke’s Villa, both in Wilkes-Barre, which is located approximately 100 miles north of Philadelphia. Little Flower Manor is a 133-bed skilled nursing facility with an attached 60-unit personal care building called St. Therese Residence. One mile away is St. Luke’s Villa, a 50-bed skilled nursing, 48-unit personal care, and 31-unit independent living community. The Diocese of Scranton sold the properties to a local nonprofit buyer for an undisclosed price. Toby Siefert and Ryan Saul of SLIB handled the transaction.
ABINGTON, PA. — HJ Sims has arranged $61.6 million in financing for an expansion project at Rydal Park, a continuing care retirement community in Abington, located approximately 10 miles north of Philadelphia. The expanded property will be rebranded as Rydal Waters, and will sit on 33 acres and comprise 84 two-bedroom cottages. The project also includes a clubhouse, and the location is walking distance to restaurants, a grocery store and a rail station. The financing for the expansion is a draw-down, bank-held, tax-exempt loan with three years of interest-only payments and a 30-year amortization schedule. Presby’s Inspired Life, an affiliate of HumanGood, operates the community. The first phase of construction is scheduled for completion in 2020.
MIDDLETOWN, PA. — CBRE has negotiated a 133,464-square-foot industrial lease for e-commerce distributor Boxzooka Fulfillment & Global Ecommerce in Middletown, located approximately 25 miles north of Baltimore. The warehouse is part of a 1.5 million-square-foot logistics center at 300 Capital Lane. William Waxman, Kevin Dudley and Nicholas Klacik of CBRE represented Boxzooka in the lease negotiations. Colony Industrial is the landlord of the logistics center.
PHILADELPHIA — Primary care provider Oak Street Health has signed an 8,000-square-foot retail lease in Philadelphia. The property is located within Strawberry Square Shopping Center, which also includes a Rite Aid, Dollar Plus and Save-a-Lot. Scott Benson of Metro Commercial represented Oak Street in the transaction. Richard Soloff of Soloff Realty & Development represented the landlord.
WILLOW GROVE, PA. — Kushner Real Estate (KRE) Group has opened Willow Pointe, a 245-unit multifamily community in Willow Grove, a northern suburb of Philadelphia. The property comprises three buildings with one- and two-bedroom floor plans, all of which include a patio or balcony. Amenities include a pool, resident lounge, fitness center, business center, outdoor grilling areas and resident storage space. Hudson Projects designed the community.