{"id":1004244794,"date":"2018-07-24T07:25:27","date_gmt":"2018-07-24T15:25:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004244794"},"modified":"2022-12-07T21:53:38","modified_gmt":"2022-12-08T05:53:38","slug":"university-of-pennsylvania-buys-247-ksf-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/university-of-pennsylvania-buys-247-ksf-industrial-asset\/","title":{"rendered":"University of Pennsylvania Buys 247 KSF Industrial Asset"},"content":{"rendered":"<p>By Tudor Scolca<\/p>\n<div id=\"attachment_1004244797\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004244797\" data-attachment-id=\"1004244797\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/university-of-pennsylvania-buys-247-ksf-industrial-asset\/eastwick-business-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg\" data-orig-size=\"640,512\" 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;0&quot;}\" data-image-title=\"Eastwick Business Center\" data-image-description=\"&lt;p&gt;Eastwick Business Center&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Eastwick Business Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg?w=640\" class=\"wp-image-1004244797 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg\" alt=\"Eastwick Business Center\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004244797\" class=\"wp-caption-text\">Eastwick Business Center<\/p><\/div>\n<p>Trustees of the University of Pennsylvania, as owner and operator of the University of Pennsylvania Health System, has acquired Eastwick Business Center, a 247,447-square-foot industrial property in Philadelphia. GMIP South 76<sup>th<\/sup> Street LP sold the asset for $14.3 million.&nbsp;<\/p>\n<p>Eastwick Business Center is located at 3250 S. 76<sup>th<\/sup> St., in the southwestern part of the metro. The single-story building constructed in 1980 sits on a 12.4-acre lot. The area has an I-2 zoning code, classifying it for medium industrial development. The facility features 40 by 40-foot column spacing, 21-foot ceiling clear heights, sky lights, insulated ceilings, wet fire sprinklers and HVAC. It has 18 dock-high and five grade-level loading doors, with heights of 10 and 14 feet respectively.<\/p>\n<p>The location provides potential tenants with immediate access to major transportation routes. Interstate 95 is less than a mile from Eastwick Business Center, in turn provides access to interstates 76, 676 and 476. Philadelphia International Airport is just under 3 miles away, while the Philadelphia CBD is about 9 miles away.<\/p>\n<p>Chris Pennington, senior vice president at Binswanger\u2019s Philadelphia office, negotiated the transaction. The company recently brokered the <a href=\"https:\/\/www.commercialsearch.com\/news\/nektar-therapeutics-trades-al-rd-facility\/\">$2.7 million transaction of a mixed-use asset<\/a> in Huntsville, Ala., a deal negotiated by Binswanger\u2019s Atlanta office.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is less than 1 mile from Interstate 95 and approximately 3 miles from Philadelphia International Airport. Binswanger brokered the transaction.<\/p>\n","protected":false},"author":1284,"featured_media":1004244797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21742,10,1494],"tags":[33940,35404],"class_list":["post-1004244794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-latest","category-northeast","category-philadelphia","tag-binswanger","tag-university-of-pennsylvania"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>University of Pennsylvania Buys 247 KSF Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/university-of-pennsylvania-buys-247-ksf-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"University of Pennsylvania Buys 247 KSF Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The property is less than 1 mile from Interstate 95 and approximately 3 miles from Philadelphia International Airport. Binswanger brokered the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/university-of-pennsylvania-buys-247-ksf-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-24T15:25:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:53:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Eastwick-Business-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/university-of-pennsylvania-buys-247-ksf-industrial-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/university-of-pennsylvania-buys-247-ksf-industrial-asset\\\/\"},\"author\":{\"name\":\"Tudor Scolca\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"headline\":\"University of Pennsylvania Buys 247 KSF Industrial Asset\",\"datePublished\":\"2018-07-24T15:25:27+00:00\",\"dateModified\":\"2022-12-08T05:53:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/university-of-pennsylvania-buys-247-ksf-industrial-asset\\\/\"},\"wordCount\":217,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/university-of-pennsylvania-buys-247-ksf-industrial-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/07\\\/Eastwick-Business-Center.jpg\",\"keywords\":[\"Binswanger\",\"University of Pennsylvania\"],\"articleSection\":[\"Deals\",\"Industrial\",\"News\",\"Northeast\",\"Philadelphia\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/university-of-pennsylvania-buys-247-ksf-industrial-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/university-of-pennsylvania-buys-247-ksf-industrial-asset\\\/\",\"name\":\"University of Pennsylvania Buys 247 KSF Industrial Asset - 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