Friday, January 19, 2018

Uline Buys 1.7M-SF BTS Sites from Liberty Property Trust

Distribution company Uline acquired two adjacent build-to-suit distribution buildings on Mill Creek Rd. in Wescosville, PA and a nearby land site on W. Grange Rd. in Allentown, PA for $249.05 million from Liberty Property Trust (LPT).

Totaling 1.67 million square feet, the two buildings had been a built-to-suit for Uline in LPT’s Liberty Business Center III, straddling Lower and Upper Muncungie that delivered in December 2016.

The transaction represents the largest industrial sale in Lehigh County for 2017, according to CoStar data, and was the result of Uline exercising an option within their lease with LPT. In August 2017, a representative for the company noted at the time that the pending deal demonstrated Uline’s commitment to the Lehigh Valley, where the Prairie View, WI-based company has had a presence for more than a decade.

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