Tuesday, July 9, 2013

REIT Pays $16.6M for Lehigh Valley Crossings

A private REIT acquired the industrial building at 2834 Schoeneck Rd. in Macangie, PA from Endurance Real Estate Group LLC and Thackeray Partners for $16.55 million, or about $61 per square feet. 

The 270,000-square-foot distribution warehouse facility sits on 30 acres, which includes nine acres that could house a future stand-alone, 80,000-square-foot building or to expand the current building an additional 100,000 square feet.

The building was delivered in 1997 and features 31 loading docks and one drive-in bay, 32-foot clear heights, 200 parking spaces, ESFR sprinkler and 20,000 square feet of built-out office space. The asset is fully occupied by the Lehigh Group. 


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