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Washington DC  + DC Metro  + Industrial  | 
Colliers Arranges Sale of Two Kent WA Industrial Properties

1788 Holdings Buys Industrial Property for $12M in 2018, Sells for $35M in 2022

An affiliate of Bethesda, MD-based 1788 Holdings, LLC, has sold the Riverside Business Center in Whitehall, PA for $34.7 million. Michael Hines of CBRE represented the seller.

Buligo Capital Partners acquired the 423,900-square-foot single-story light industrial building.

1788 Holdings purchased property on Lehigh Avenue in 2018 for $11.7 million and increased the occupancy of the warehouse component of the project from 87% to its current 100%.

“We were initially attracted to Riverside Business Center based on the unique opportunity to acquire a high-quality Class B light industrial property that was substantially leased with in-place rents significantly below market, as well as the compelling opportunity to build significant value with a strategic capital investment program, aggressive leasing effort and cost-efficient property management strategy,” said Larry Goodwin, principal of 1788 Holdings. “The property had an irreplaceable location and a strong tenant base to match local demand for industrial, light manufacturing and warehouse space.”

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1788 Holdings, LLC's Goodwin

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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