CBRE announces sale and leaseback of 291,203 s/f whse/dist facility
PENNSBURG, PA — CBRE has arranged the sale and leaseback of a 291,203 s/f industrial building on 30.2-acres located at 2452 Quakertown Rd. in Pennsburg. The building, which is net leased through early 2028, was acquired by One Liberty Properties, Inc. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team and CBRE National Partners represented the seller, RAF Industries, during negotiations. CBRE’s Paul Touhey and Drew Green assisted with the sale. “This was a great opportunity for RAF Industries to monetize their asset and sign below market leases for operation efficiencies,” said Hines, vice chairman, CBRE.