Cushman & Wakefield arranges sale of Fairview Industrial Park in Central PA
LEWISBERRY, PA — Cushman & Wakefield orchestrated the sale of six flex buildings that comprise Fairview Industrial Park from Allegiancy of Richmond, VA, to Louisville, CO-based Real Capital Partners.
The buildings, 509, 515 and 540 Industrial Dr. and 621, 629 and 631 Distribution Plaza, total 270,168 s/f and sold for $11.75 million, said Cushman & Wakefield executive director Gerry Blinebury, who represented Allegiancy and led the Central Pennsylvania team of Robert Yoshimura, Joseph Hill, Jr. and Pat McBride.
“Fairview Industrial Park is 80% leased and the properties have some older construction features, so the new owner will have opportunity to make improvements, making this a good value-add investment,” Blinebury said.
In a separate transaction, Cushman & Wakefield’s Pennsylvania industrial team arranged the lease of a new warehouse at 140 Fulling Mill Rd. to syncreon, a third-party logistics provider. The building is owned by a client of Clarion Partners, which developed the property in partnership with MRP Industrial.
“syncreon, a leading specialized contract logistics company, will occupy the entire 249,600 s/f industrial property located across the street from a FedEx Ground hub and 10 miles from a UPS Parcel hub in Harrisburg,” said Cushman & Wakefield senior director Leah Balerno, who represented the tenant in the deal.