Wednesday, April 20, 2016

Target's York DC Sold for $60M

Endurance Real Estate Group LLC sold the Target Distribution Center at 325 S. Salem Church Rd. in York, PA to Boston-based private equity firm AEW Capital Management for $60 million, or about $76 per square foot.

The 785,400-square-foot industrial building was constructed in 2007 on 49.7 acres in the York County Industrial submarket of Philadelphia. The unrivaled property features a small office build-out, 64 loading docks with levelators, a 16-foot drive-in, 42-foot clear heights, eight-inch floors, 4,000-amp heavy power with two back-up generators, air lines, 54x43-foot column spacing, 60-foot staging bays, multi-level pick systems, fluorescent lighting, air conditioning, 106 trailer storage positions and 461 car parking spaces, direct highway access and a fenced lot.

The building was renovated and expanded in March 2016. Endurance acquired the building, then totaling just 624,800 square feet, from Schottenstein Property Group in early 2014 for $26 million ($42 psf).

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