Wednesday, November 25, 2015

York Industrial, 515 Zarfoss Drive, Sold For $16.5M

by Steve Lubetkin,
Endurance Real Estate Group and Thackeray Partners have sold the 313,000 square-foot 515 Zarfoss Drive in York, PA, to Industrial Property Trust for $16.5 million. The property is located in the 27 million square foot Central Pennsylvania industrial market, which is widely considered one of the top performing in the United States.

“515 Zarfoss Drive presented the opportunity for the buyer to acquire a 100 percent leased, highly-functional asset with a tenant who has an unmatched local presence and commitment to the market." “York County has continued to be a shining star within the Central Pennsylvania market, outperforming other locations in terms of high quality of labor, rental rates and limited vacancy.”

Central Pennsylvania remains an attractive industrial market for investors due to its  superior regional connectivity within a one-day drive of New York, Philadelphia, Baltimore, Washington, DC, and Pittsburgh. The York County market has emerged as one the most highly sought after locations within the Central Pennsylvania market due in part to its close proximity to Harrisburg, strategic location along I-83 and high quality labor.

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