{"id":1004729863,"date":"2024-09-24T02:29:19","date_gmt":"2024-09-24T10:29:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004729863"},"modified":"2024-09-24T05:56:45","modified_gmt":"2024-09-24T13:56:45","slug":"pccp-acquires-518-ksf-facility-for-58m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/","title":{"rendered":"PCCP Acquires 518 KSF Facility for $58M"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Exterior<\/a>
Hamburg Logistics Center is a cross-dock facility featuring 100 dock-high loading doors and four drive-in doors. Image courtesy of JLL<\/em> Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n

PCCP has acquired Hamburg Logistics Center, a 518,140-square-foot warehouse and distribution facility in Hamburg, Pa., a Philadelphia submarket. <\/p>\n\n\n\n

The company paid $57.5 million for the asset and took out a $46.4 million loan from Heitman Capital Management, with a maturity date set for 2027, according to public records.<\/p>\n\n\n\n

A joint venture between Transwestern Development Co. and QuadReal Property Group sold the facility. JLL Capital Markets brokered the deal on behalf of the seller and arranged the acquisition financing.<\/p>\n\n\n\n

The cross-dock facility came online in 2021 and was vacant at the time of sale. The building has 40-foot clear heights, 100 dock-high loading doors, four drive-in doors, 294 car parking spaces, 126 trailer stalls and 185-foot truck courts. The Class A warehouse also has 60-foot speed bays and about 2,740 square feet of office space.<\/p>\n\n\n\n

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READ ALSO: <\/strong>Top Mid-Atlantic Markets for Industrial Transactions<\/a><\/p>\n\n\n\n

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Located at 3501 Mountain Road, the 64-acre property provides direct access to Interstate 78 and is 89 miles from downtown Philadelphia. Newark International Airport and the Port of New Jersey and New York are 116 miles away.<\/p>\n\n\n\n

JLL Investment Sales and Advisory team comprised Senior Managing Director John Plower, Director Ryan Cottone and Associate Zach Maguire, alongside Vice Chairs Jeff Lockard and Paul Torosian. Senior Managing Directors Chad Orcutt, Jon Mikula and Jim Cadranell arranged the acquisition financing.<\/p>\n\n\n\n

Philadelphia\u2019s recent industrial transactions<\/h2>\n\n\n\n

Philadelphia registered $277 million in industrial transaction volume<\/a> year-to-date as of July, according to the latest CommercialEdge report<\/a>. Assets in the metro changed hands for $107 per square foot on average, below the $135 national figure. Additionally, the metro\u2019s vacancy rate clocked in at 5.2 percent.<\/p>\n\n\n\n

In August, Link Logistics sold 240 Mantua Grove Road, a 652,411-square-foot industrial facility in West Deptford, N.J. The property traded for $90.8 million\u2014or $139.18 per square foot\u2014CommercialEdge information shows. KKR acquired the asset with help from a $46 million loan originated by Global Atlantic Financial Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property came online in 2021.<\/p>\n","protected":false},"author":3355,"featured_media":1004729868,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,11,21742,1494],"tags":[37950,32796,33053,46652,42641],"class_list":["post-1004729863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-midatlantic","category-latest","category-philadelphia","tag-heitman-capital-management","tag-jll","tag-pccp-llc","tag-quadreal-property-group","tag-transwestern-development-co"],"acf":[],"yoast_head":"\nPCCP Acquires 518 KSF Facility for $58M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"PCCP LLC acquired Hamburg Logistics Center, a 518,140-square-foot warehouse and distribution facility in Hamburg, Penn., for $57.5 million.\" \/>\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\/pccp-acquires-518-ksf-facility-for-58m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PCCP Acquires 518 KSF Facility for $58M\" \/>\n<meta property=\"og:description\" content=\"PCCP LLC acquired Hamburg Logistics Center, a 518,140-square-foot warehouse and distribution facility in Hamburg, Penn., for $57.5 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/\" \/>\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=\"2024-09-24T10:29:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-24T13:56:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Hamburg-Logistics-Center_Photo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/\",\"name\":\"PCCP Acquires 518 KSF Facility for $58M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Hamburg-Logistics-Center_Photo.jpg\",\"datePublished\":\"2024-09-24T10:29:19+00:00\",\"dateModified\":\"2024-09-24T13:56:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"PCCP LLC acquired Hamburg Logistics Center, a 518,140-square-foot warehouse and distribution facility in Hamburg, Penn., for $57.5 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pccp-acquires-518-ksf-facility-for-58m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Hamburg-Logistics-Center_Photo.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/09\/Hamburg-Logistics-Center_Photo.jpg\",\"width\":1000,\"height\":750,\"caption\":\"Hamburg Logistics Center is a cross-dock facility featuring 100 dock-high loading doors and four drive-in doors. 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