"BPG Properties has sold the 314,521 square foot bulk distribution center at 200 West Stewart Huston in Sadsbury Township, PA to New York City-based AREA Property Partners for $16.2 million.
Jonathan Carpenter and James Wellschlager of Cassidy Turley's Capital Markets Group in Baltimore represented BPG Properties, Ltd. in this transaction.
In the second quarter of 2011, Communications Test Design, Inc. signed a five-year, full building lease at 200 West Stewart Huston Dr, extending the lease it executed in 2006 after BPG's acquisition of the property from EB Games, the former owner and occupant.
CTDI is a telecommunications service company headquartered in West Chester, PA.
Built in 2004, 200 West Stewart Huston is a 314,521 square foot modern distribution facility, situated on 27.9 acres of land allowing for expansion by up to approximately 89,400 square feet. The property offers 30 foot clear heights, 24 tailgate doors, one drive-in door and 14,000 square feet of finished office space.
"This Class A distribution facility, with expansion capabilities and full occupancy, offered the buyer credit and risk averse income in the near-term, while providing the potential for value creation in the future," said James S. Wellschlager, Senior Vice President at Cassidy Turley."
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