BALTIMORE – Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced the sale of the I-81 Distribution Center located at 4500 Early Road in Harrisonburg, Virginia. This 357,673-square-foot bulk distribution center is fully leased to Ply Gem Holdings, Inc. through February 2018. Jonathan M. Carpenter and James S. Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Philadelphia-based BPG Properties. STAG Industrial, a publicly traded Real Estate Investment Trust (REIT), purchased the property for $16,050,000.
“Investment sales activity in the industrial sector remains strong,” commented Jonathan M. Carpenter, Senior Vice President and Principal at Cassidy Turley. “We anticipate the high level of industrial sales to continue into 2013 as the leasing market recovers and new supply of inventory lags.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 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 $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants 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. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.