{"id":1004232128,"date":"2018-05-25T04:47:18","date_gmt":"2018-05-25T12:47:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004232128"},"modified":"2022-12-07T06:44:35","modified_gmt":"2022-12-07T14:44:35","slug":"philadelphia-area-distribution-facility-trades-for-13m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/philadelphia-area-distribution-facility-trades-for-13m\/","title":{"rendered":"Philadelphia-Area Distribution Facility Trades for $13M"},"content":{"rendered":"<p>By Beata Lorincz<\/p>\n<div id=\"attachment_1004232132\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/2452-Quakertown-Road-e1527251145451.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004232132\" data-attachment-id=\"1004232132\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-area-distribution-facility-trades-for-13m\/2452-quakertown-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/2452-Quakertown-Road-e1527251145451.jpg\" data-orig-size=\"573,430\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"2452 Quakertown Road in Pennsburg, Pa.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2452 Quakertown Road in Pennsburg, Pa.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/2452-Quakertown-Road-e1527251145451.jpg?w=573\" class=\"wp-image-1004232132 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/2452-Quakertown-Road-e1527251145451.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/2452-Quakertown-Road-e1527251145451.jpg 573w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/2452-Quakertown-Road-e1527251145451.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004232132\" class=\"wp-caption-text\">2452 Quakertown Road in Pennsburg, Pa.<\/p><\/div>\n<p>One Liberty Properties has acquired a 291,203-square-foot industrial asset in Pennsburg, Pa. CBRE arranged the sale and leaseback transactions of the distribution facility, which is net leased through 2028. According to public records, RAF Industries Inc. sold the property for $12.7 million.<\/p>\n<p>The asset is located at 2452 Quakertown Road, a 10-minute drive away from Interstate 476, while downtown Philadelphia is roughly an hour\u2019s drive of the 30.2-acre site. The property was completed and expanded between 1986 and 1994. Since 2006, the building served as headquarters for Campania International and U.S. Tape.<\/p>\n<p>CBRE Capital Markets\u2019 Institutional Properties team of Vice Chairman Michael Hines, Executive Vice President Brian Fiumara and Director Lauren Dawicki, along with CBRE National Partners, represented the seller. <em>\u201cThis was a great opportunity for RAF Industries to monetize their asset and sign below market leases for operation efficiencies,\u201d<\/em> said Hines, in prepared remarks.<\/p>\n<p>Last year, One Liberty\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/one-liberty-sells-vacant-colorado-property\/\">sold a vacant property in Colorado<\/a> for $9.1 million, resulting in an anticipated gain of $6.5 million for the company. Sports Authority was the last tenant of the 45,000-square-foot asset before the sale.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE brokered the sale and leaseback of the roughly 291,000-square-foot industrial property in Pennsburg, situated one hour away from downtown Philadelphia.  <\/p>\n","protected":false},"author":739,"featured_media":1004232132,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,10,1494],"tags":[32789,34828,35427],"class_list":["post-1004232128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-northeast","category-philadelphia","tag-cbre","tag-michael-hines","tag-one-liberty-properties-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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