Thursday, May 31, 2012

Packaging Corp of America Bldg Changes Hands for $17.3M

"Endurance Real Estate Group LLC sold the 394,577-square-foot Packaging Corporation of America industrial building at 171 - 173 Tuckerton Rd. in Reading, PA to STAG Industrial Management LLC for $17.3 million, or about $44 per square foot.

The distribution facility was constructed in 1956, and renovated in 1999. The building sits on more than 32 acres of land, contains 65 loading docks with levelators, and has access to four rail lines. Packaging Corporation of America occupies approximately 200,000 square feet with more than 14 years remaining on its lease."

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