Jones Lang LaSalle
50,000-SF Warehouse Sells
By Eric Peterson
Last updated: March 1, 2006 10:07am
(To read more on the industrial market, click here.)
PENNSAUKEN, NJ-Canada-based Barry Callebaut, a maker of cocoa and chocolate products, has sold the 50,000-sf warehouse at 1615 Suckle Hwy. to Suckle Holdings LLC, which in turn has leased the asset to Party Rentals and Dependable Distribution. The combined sale price and aggregate rental agreements "exceeds $1.5 million," says Bill Goodwin, EVP of CB Richard Ellis in Philadelphia. Goodwin and CBRE first vice president Brian Knowles arranged the three transactions.
Buyer Suckle Holdings LLC is a local real estate investment corporation, according to Goodwin. "They purchased the building for its long-term appreciation in the industrial property market."
The building sits on a four-acre site in metro Philadelphia. Its layout includes 3,500 sf of finished office space, and the site "has the potential for rail service," according to Goodwin.
50,000-SF Warehouse Sells
By Eric Peterson
Last updated: March 1, 2006 10:07am
(To read more on the industrial market, click here.)
PENNSAUKEN, NJ-Canada-based Barry Callebaut, a maker of cocoa and chocolate products, has sold the 50,000-sf warehouse at 1615 Suckle Hwy. to Suckle Holdings LLC, which in turn has leased the asset to Party Rentals and Dependable Distribution. The combined sale price and aggregate rental agreements "exceeds $1.5 million," says Bill Goodwin, EVP of CB Richard Ellis in Philadelphia. Goodwin and CBRE first vice president Brian Knowles arranged the three transactions.
Buyer Suckle Holdings LLC is a local real estate investment corporation, according to Goodwin. "They purchased the building for its long-term appreciation in the industrial property market."
The building sits on a four-acre site in metro Philadelphia. Its layout includes 3,500 sf of finished office space, and the site "has the potential for rail service," according to Goodwin.
posted by Jones Lang LaSalle NJ News Blog at 3:10 PM
<< Home