BALTIMORE – Cassidy Turley today announced the sale of 200 West Stewart Huston Drive, a 314,521-square-foot bulk distribution center located in Sadsbury Township, Pennsylvania. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, private equity real estate fund manager BPG Properties, Ltd. New York City based AREA Property Partners purchased the asset for $16,200,000.
“This Class A distribution facility, with expansion capabilities and full occupancy, offered the buyer credit and risk averse income in the near-term, while providing the potential for value creation in the future,” commented James S. Wellschlager, Senior Vice President at Cassidy Turley. “Product offerings like these with stability, yet the potential for future upside, are in high demand in today’s market and will command healthy interest and pricing.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.