Thursday, August 4, 2011

Foreclosed Industrial Complex Sells for $5.5M

"Genworth Financial, Inc. sold the foreclosed, two-building Cascade Drive Industrial Complex to MIM-Hayden Real Estate Fund for $5.5 million, or about $25 per square foot.

Located at 202 - 212 Cascade Drive in Allentown, PA, the two-building site sits on more than 14 acres and totals 219,500 square feet of rentable area. The buyer secured a long-term, 100,000-square-foot tenant before the sale transaction closed."

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