Bristol, PA — Procision Commercial Realty, an affiliate of Procision Business Brokers, announced the sale of 2558 Pearl Buck Rd. in Bristol. Procision’s elite broker team of Robert Beach and Richard Shore represented the seller, Snowball Real Estate L.P. in the $7.625 million deal.
Located in the Keystone Industrial Park, the Pearl Buck property offers excellent access to I-95 and is situated in close proximity to the region’s extensive highway network. With its prime Bucks County locale, occupants greatly benefit from the availability of a well-educated and skilled workforce and numerous shopping and food options nearby. Vacancy rates are some of the lowest in the Greater Philadelphia Region and rental rates continue to rise in this tight Industrial Market.
As the former Corporate HQ of Action-Pak Inc., 2558 Pearl Buck offered a unique combination of features that made the site desirable for both for manufacturing and distribution use. Security was enhanced with a gated truck court, motion detectors and a 64 camera system that monitored the interior and exterior of the property. Additional upgrades included conditioned warehouse space, compressed airlines and heavy electrical power augmented by expanded bus bar distribution throughout the warehouse.
Ultimately, the transaction was a case study in the selling of a quality asset during an unprecedented and life changing pandemic. In order to maximize value and selling price, Procision strategically positioned the property and ideally timed the eventual successful sale. Marketing of the property began in February of 2020 and with great momentum, there was a meeting of the minds with a prospective buyer in less than 30 days. Then Covid struck and everything changed rapidly. “On Friday, we had a deal in principle and by Tuesday of the following week, it was gone. With the onset of shutdowns in March and the resulting limitations on inspections, it became clear that this was not an environment that was conducive for a market setting type of transaction, so we decided to suspend the sales process. Marketing efforts were reinitiated later in the year as business activity began to reemerge” said Beach.
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