By Ryan Cashion
Penn Beer Sales & Service, a Hatfield, Pennsylvania-based wholesale distributor of alcoholic beverages, purchased the 324,796-square-foot manufacturing facility it fully occupies at 2801-2805 Township Line Road in Hatfield from Maguire Hayden Real Estate Co. for $48.5 million, or roughly $149 per square foot. The notable owner-user sale included both the industrial building and adjacent land parcels.
The industrial property was originally built in 1967, with renovations completed in 1998. Maguire Hayden had acquired the property in 2019 from S.S. Gretz Beverage for $27 million, or about $83 per square foot.
Gretz Beer Co. had sold its business operations to Penn Beer, one of the largest Anheuser-Busch wholesalers in the Northeast, while retaining the real estate until the sale to Maguire Hayden, a privately held real estate firm founded through a collaboration between Maguire Investment Management and Hayden Real Estate Investments. The firm is led by Tony Hayden, Jr. as principal and CEO.
Following the purchase, Penn Beer plans to build two additional warehouse-distribution centers on the 30-acre property.
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