Monday, December 10, 2018

85K SF Industrial at 500 State Road, PA, Sold for $4.7M

by Steve Lubetkin,
The sale of the 84,953 square-foot 500 State Road, Bensalem Township, Bucks County, PA traded recently. The property, a modern one-story masonry and steel multi-tenant building situated on 4.15 acres was sold to 500 State LLC, a privately held real estate investment firm, on behalf of State Road Associates, the previous owner.

The building is presently divided into three units—Unit A (approx. 24,233 square feet), which is occupied by Easy Heat Wood Pellets, Unit B (approx. 18,710 square feet) and Unit C (approx. 42,010 square feet), which are occupied by Betz Plumbing and Heating Supply.  In addition, a portion of the site is also leased to Omnipoint for the location of a cell tower.
The building is heated and sprinklered throughout and offers ceiling heights from 24-feet to 24-feet, 9 inch clear, twelve tailgate docks, five drive-in doors, 42-foot by 30-foot column spacing, and about 8,600 square feet of office space, with parking for 62 cars.

Strategically situated between the Academy Road and Woodhaven Road Interchange of I-95, the property offers convenient access to the Pennsylvania Turnpike (Exit 351/Bensalem) as well as Route 1 and the Betsy Ross Bridge and Tacony–Palmyra Bridge to New Jersey.  The property is just 20 minutes from metropolitan Philadelphia, 30 minutes from Trenton, NJ and 90 minutes from New York.

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