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In a recent transaction, TA Realty LLC successfully sold two top-of-the-line warehouse buildings to High Street Logistics Properties, LLC. The deal was worth more than $60 million and encompassed an impressive 440,850 square feet.
The first building is situated at 525 Industrial Drive in Lewisberry, Pennsylvania and spans over 189,600 square feet. It is currently fully leased to Westlake Pipe. The second building is located at 701 Stony Battery Road in Lancaster, Pennsylvania and boasts a total of 251,250 square feet of space that is currently occupied by Packaging Corporation of America.
Representing the seller were the Capital Markets team from BRK Real Estate Advisors: Bob Yoshimura , Joe Hill , and Eric Mattson . According to Mattison , their marketing efforts attracted numerous qualified investors resulting in a highly competitive bidding process for these properties.” He also noted that the buyer was drawn to these assets due their exceptional quality,
strategic location,and potential for increased rental rates once current leases expire.
BRK Real Estate Advisors operates out of Conshohocken,Pennsylvania with expertise in capital market transactions catering towards pension fund advisors,
REITs,family offices,and private ownership groups.
This news originally appeared on Connect CRE.
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