Thursday, January 17, 2019

Denver-based Black Creek Group Buys Allentown, Pennsylvania, Warehouse

Black Creek Group, a Denver-based investment, management and development firm, purchased a 153,600-square-foot warehouse at Iron Run Corporate Center in Allentown, Pennsylvania, from High Street Realty Company for $15.3 million, or about $100 per square foot.

The fully leased, single-story structure at 7055 Ambassador Drive comprises 18 loading docks, one drive-in bay, 40- by 40-foot column spacing and a 26-foot clear ceiling height. Built in 1991, the 4-Star property spans 15 acres less than 12 miles from Lehigh Valley International Airport.

During its 25-year history, Black Creek Group has bought or built more than $18.5 billion of investments, including office, industrial, retail and multifamily properties, according to its website.

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