Pennsylvania

NewAge Industries Acquires 46,618 SF Industrial Property in Warrington, Pennsylvania

by Alex Patton May 28, 2020

WARRINGTON, PA. — NewAge Industries Inc., a hose supplier headquartered in Southampton, Pennsylvania, has acquired a 46,618-square-foot industrial property in the northern Philadelphia suburb of Warrington. The one-story property is part of an industrial park located at 364 Valley Road. The property features 20-foot clear heights, five tailgate loading doors and approximately 3,000 square feet of office space. Andrew McGhee of Colliers International represented NewAge Industries in the transaction. Sean Durkin of Roddy Inc. represented the seller, 364 Valley Road LP

May 28, 2020

Loans Multifamily Northeast Pennsylvania

Greystone Provides $45.8M Fannie Mae Acquisition Loan for Multifamily Property in Ambler, Pennsylvania

by Alex Patton May 22, 2020

AMBLER, PA. — Greystone has provided a $45.8 million Fannie Mae loan for the acquisition of The Woods Apartments, a 321-unit multifamily property in the northern Philadelphia suburb of Ambler.The borrower was Woods Realty Associates. Located at 1410 E. Butler Pike, the garden-style property was originally constructed in 1974 and features one-, two- and four-bedroom floor plans. Dan Sacks of Greystone arranged the loan, which carries a 12-year term with a 30-year amortization schedule.

May 22, 2020

Development Industrial Northeast Pennsylvania

Duke Realty Nears Completion of 615,000 SF Build-to-Suit Industrial Project in Myerstown, Pennsylvania

by Alex Patton May 20, 2020

MYERSTOWN, PA. — Indiana-based REIT Duke Realty Corp. is nearing completion of Central Logistics Park 100, a 615,000-square-foot warehouse in Myerstown, approximately 35 miles east of Harrisburg. Located at 100 Fort Motel Drive, the building will feature 45-foot clear heights and 7,000 square feet of office space. The remaining acreage on the site can accommodate additional development of up to 584,820 square feet. The development is a build-to-suit project for wholesale tire distributor Max Finkelstein Inc. Duke expects to complete construction in late spring or early summer of 2020.

May 20, 2020

Acquisitions Industrial Northeast Pennsylvania

Mountain Development Corp. Acquires 86,315 SF Industrial Building in Philadelphia

by Alex Patton May 18, 2020

PHILADELPHIA — Mountain Development Corp., a New Jersey-based developer, has acquired an 86,315-square-foot industrial building in Philadelphia. Located at 3445-3535 S. Front St., the property features clear heights ranging from 18 to 44 feet, 14 loading docks and a 10 percent office finish. The property offers convenient access to the CSX Rail Yard, the Philadelphia Nay Yard and Interstate 95. At the time of sale, plumbing supplies distributor Ferguson Enterprises was the sole tenant of the entire facility. Michael Oliver and Jose Cruz led a JLL team that represented the seller, The Hampshire Cos., in the deal. The sales price was undisclosed.

May 18, 2020

Acquisitions Northeast Office Pennsylvania

Marcus & Millichap Brokers Sale of Two Office Buildings Totaling 77,464 SF in Mechanicsburg, Pennsylvania

by Alex Patton May 18, 2020

MECHANICSBURG, PA. — Marcus & Millichap has brokered the $8.2 million sale of a pair of office buildings totaling 77,464 square feet in Mechanicsburg, a western suburb of Harrisburg. The properties are located at 600 and 1000 Bent Creek Blvd. and were completed in 2006. At the time of sale, the properties were fully leased to a mix of medical and other professional office tenants. Craig Dunkle of Marcus & Millichap represented the buyer, a locally based limited liability company, in the transaction. Laura Martin of SVN Latus represented the seller, another limited liability company. Both parties requested anonymity.

May 18, 2020

Loans Multifamily Northeast Pennsylvania

Greystone Provides $76.7 Million Fannie Mae Loan for Refinancing of Multifamily Property Near Philadelphia

by Alex Patton May 14, 2020

HUNTINGTON VALLEY, PA. — Greystone has provided a $76 million Fannie Mae loan for the refinancing of Meadowbrook Apartments, a 531-unit multifamily property in Huntingdon Valley, a northern suburb of Philadelphia. Located at 1700 Huntingdon Pike, the property was constructed in 1968 and features studio, one-, two- and three-bedroom units.. The borrower was Lindy Properties. Dan Sacks of Greystone originated the loan, which carries a 10-year term with interest-only payments.

May 14, 2020

Acquisitions Northeast Pennsylvania Retail

Colliers Brokers Sale of 31,450 SF Shopping Center in Bethlehem, Pennsylvania

by Alex Patton May 14, 2020

BETHLEHEM, PA. — Colliers International has brokered the $4.5 million sale of Bethlehem Village Shoppes, a 31,450-square-foot retail center in Bethlehem, an eastern suburb of Allentown. At the time of sale, tenants included the Northampton County Court of Common Pleas, H&R Block and several restaurants. Jeff Algatt, Derek Zerfass and Scott Horner represented the seller, a locally based private investor, in the transaction. W.C. Weiss of Equis Commercial Real Estate represented the undisclosed buyer. QNB Bank provided acquisition financing.

May 14, 2020

Development Multifamily Northeast Pennsylvania

Larken Associates Underway on 107-Unit Multifamily Project in York, Pennsylvania

by Alex Patton May 13, 2020

YORK, PA. — Larken Associates is underway on construction of The Enclave at Copper Chase, a 107-unit multifamily project in York, a city located approximately 25 miles south of Harrisburg. Located at 3145 Honey Run Drive, the project is an addition to Larken’s existing 132-unit The Reserve at Copper Chase community. The Enclave will include one-, two- and three-bedroom floor plans, a clubhouse and fitness center. The project also includes renovations to the pool and lounge, as well as upgrades to the property’s roofing and exteriors. Larken acquired the property in 2019. The construction schedule was undisclosed.

May 13, 2020

Acquisitions Industrial Northeast Pennsylvania

Brennan Investment Group Acquires 380,274 SF Industrial Portfolio in Lehigh Valley

by Alex Patton May 12, 2020

CHICAGO — Brennan Investment Group, a Chicago-based developer, has acquired a three-building industrial portfolio totaling 380,274 square feet in Pennsylvania. The portfolio is located in the Lehigh Valley submarket, which is situated north of Philadelphia and west of New York City and includes the cities of Allentown, Bethlehem and Easton. The properties offer convenient access to Interstates 78 and 81, as well as the Lehigh Valley International Airport. The seller and sales price were undisclosed.

May 12, 2020

Northeast Pennsylvania Retail

Colliers Negotiates Sale of 41,179 SF Retail Property in Montgomeryville, Pennsylvania

by Alex Patton May 12, 2020

MONTGOMERYVILLE, PA. — Colliers International has negotiated the $4 million sale of a 41,179-square-foot retail property in Montgomeryville, a northern suburb of Philadelphia. Located at 980 Bethlehem Pike, the building was previously occupied by craft supplies retailer A.C. Moore but was vacant at the time of sale. The property is located near the Route 202 shopping center, which includes a Target, Giant supermarket and Bed Bath & Beyond. Carl Neilson, Todd Sussman and Jon Kieserman represented the seller, a local limited liability company, in the transaction. The buyer was 978 Bethlehem Pike LLC.

May 12, 2020

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