Thursday, December 15, 2011

Bond Family Partnership LP acquired two industrial flex for $2,865,000

"Bond Family Partnership LP acquired two industrial flex assets in Manheim, PA totaling 105,392 square feet for $2,865,000, or about $27 per square foot.

The properties, both located in Lancaster County's Manheim Borough, immediately off Route 72 just 15 miles south of the Lebanon-Lancaster Interchange Exit 266 on the PA Turnpike and six miles north of Route 30 and I-283 in Lancaster, include:

311 W. Stiegel St. - a 76,129-square-foot building on 2.2 acres. Included in the sale was 411 West Stiegel St., a parking lot consisting of 48 surface spaces, and 106 South Penn St. with another 43 parking spaces. These properties were purchased from Arbee Realty Trust for $1,733,325.

102 S. Heintzelman St. - situated on 4.3 acres, it consists of a 29,263-square-foot building. This property was purchased for $1,131,675 from M&H Investors LLC.

Fenner Drives, a leader in reinforced Polymer technology, has long-term leases at both buildings, which sold with a reported capitalization rate of 8.8%."

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