Wednesday, April 23, 2014

Patriot Equities Acquires Vacant Industrial in Lancaster

Patriot Equities LP acquired the Old Sycamore Industrial Park building at 2919 Old Tree Dr. in Lancaster, PA from Avir Corporation for $3.5 million, or about $15 per square foot. 

The single-story, 240,528-square-foot industrial building was constructed in 1985 in the Lancaster County Industrial submarket of Philadelphia. It was vacant at the time of sale. The buyer is reportedly going to renovate the property, and obtained financing for the acquisition and construction.

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