Lehigh Valley, PA — Denholtz Properties has acquired the Lehigh Valley Portfolio, an 18-building, 723,734 s/f portfolio spread across Allentown and Bethlehem. The transaction is the latest acquisition for Denholtz Properties’ joint venture which plans to acquire and develop multi-tenant industrial properties across the United States. Brad Ruppel and Tristan Cade of CBRE represented the seller PennCap Properties in the transaction.
The Lehigh Valley Portfolio is made up of versatile spaces situated in a coveted infill location along Rte. 22, within the I-78/I-81 Corridor. Each building offers tenants exceptional connectivity to the entire Lehigh Valley market, along with the metropolitan areas of Philadelphia and NYC.
“The Lehigh Valley’s favorable demographics and ease of access to substantial population centers across the eastern United States paired with a constrained new construction pipeline make it a highly desirable market for us,” said Mark Mahasky, director, acquisitions and capital transactions at Denholtz Properties. “We look forward to executing our time-tested asset management strategy across this portfolio to create a premier experience for the area’s tenants.”
According to the latest data from CBRE, the market continues to see strong year-over-year rent growth and a limited supply of new construction that has positioned it for long-term stability.