National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Dermody Affiliate Acquires 1.3MSF PA Industrial Portfolio for $76.1M
Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register.
Capital Logistics Center, a five-building industrial portfolio in Middletown, PA, was sold for $76.1 million. An affiliated entity of Dermody Properties acquired the 1.3-million-square-foot portfolio on behalf of one of its closed-end funds from a joint-venture partnership of Woodmont Industrial Partners and AEW Capital Management.
The park is 74% occupied, and includes an additional 133,800 square feet of available development. The property is located in Central Pennsylvania’s Interstate 81 distribution corridor, which is near vital transportation links, including I-81 and the Pennsylvania Turnpike.
Cushman & Wakefield’s Gerry Blinebury and Gary Gabriel represented the seller. The buyer was self-represented.
Blinebury says, “In addition to the highly desirable location, extensive renovations completed by Woodmont/AEW leave the assets well-positioned for the user community, as evidenced by a major food distributor’s recent decision to occupy 400,000 square feet of class A space.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
