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HARRISONBURG, VA. — A partnership between Pearlmark and Seastone Capital has purchased 1433 Pleasant Valley, a 433,039-square-foot industrial building located off I-81 in Harrisonburg. The seller and sales price were not disclosed. The property was fully leased at the time of sale to two tenants: Marshalls and DRiV Automotive.
Built more than 20 years ago on a 30.2-acre site in Virginia’s Shenandoah Valley region, the building is partially cross-docked and features 35-foot clear heights.
A major life insurance company provided acquisition financing for the transaction, which represents the fourth investment for Pearlmark’s latest equity fund, Pearlmark Equity Partners II LP.