Monday, April 1, 2019

Colony Capital Acquires LogistiCenter at Midway for $79.5 Million in Bethel PA

Global real estate and investment management firm Colony Capital purchased a 4-Star warehouse in Bethel, Pennsylvania, from Dermody Properties. LogistiCenter at Midway sold for $79.58 million, or about $74 per square foot.

The 1.08 million-square-foot facility at 270 Midway Road comprises 222 loading docks and levelators, four drive-in bays, 54- by 50-foot column spacing and a 36-foot clear ceiling height. Developed by the seller in 2018, the single-story structure spans nearly 74 acres adjacent to I-78.

Headquartered in Los Angeles, Colony Capital (NYSE: CLNY) currently has more than $43 billion in assets under management, according to its website.

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