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CBRE Brokers Sale of Philly-Area Industrial
CBRE arranged for the sale of a 172,071-square-foot industrial facility at 1515 Garnet Mine Rd., in Garnet Valley, PA, 25 miles southwest of Center City Philadelphia. BHN Associates, LLC acquired the asset for an undisclosed price.
Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE National Partners represented seller Evergreen Private Finance. Italiano Commercial Real Estate Service’s Steve Italiano assisted with the sale.
Built in 1974 and renovated in 2002, the 4.36-acre site was designed as a single-tenant manufacturing facility and subsequently bifurcated to house multiple tenants. Currently, it’s 100% leased to two tenants.
“Investor demand for older, functioning industrial product along the I-95 corridor has never been stronger,” said Hines. “1515 Garnet Mine Rd. is ideally located just three miles from I-95 and 13 miles from Philadelphia International Airport. In addition, both leases are below market, making this acquisition a tremendous opportunity for BHN Associates.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
