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  • Writer's pictureMAREJ

NAI James E. Hanson inks 11 bldg. sale & partial leaseback

Trevose, PA — NAI James E. Hanson has negotiated the sale and partial leaseback of an 11-building, 332,400 s/f industrial campus on 45.75 acres located at 4636 Somerton Rd. in Trevose. NAI James E. Hanson’s Andrew Somple, SIOR, and Justin Allessio represented the seller, SUEZ Water Technologies and Solutions (WTS) USA, in the sale with the buyer, J.G. Petrucci Company, Inc. As part of the agreement, SUEZ USA has leased back 93,000 s/f to retain its headquarters at the property. Additionally, RLS USA, Inc., a former GE subsidiary, will lease 20,000 s/f for research and development.

A mixed-use campus comprised of office, specialized laboratory, and warehouse space, 4636 Somerton Rd. boasts a strategic regional location in Bucks County. Recognizing the tremendous investment opportunity offered by the property, SUEZ USA, an international provider of water technologies and solutions, retained the NAI Hanson team of Somple and Allessio to secure a buyer who would agree to the terms of a sale-leaseback agreement, allowing SUEZ to retain their key operations on of their former Somerton Rd. headquarters.

The buyer plans to demolish several of the existing office buildings and construct an industrial warehouse in their place.

“The pandemic’s economic impacts are still reverberating across the country with some sectors bouncing back more quickly than others,” said Somple. “The sale-leaseback has become a viable option for many businesses in today’s post-COVID environment who are looking to quickly increase their cashflow, shed extraneous real estate, and continue to successfully operate their businesses. We were pleased to leverage our deep industrial market expertise to help SUEZ USA address their shifting space needs while also capitalizing on a strong market.”


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