Warminster, PA — On behalf of Ivyland 40 Love, LLC, an affiliate of Sandkris Properties, Inc., Procision Commercial Realty announced the recent sale of 350 Ivyland Rd. in Warminster. Robert Beach, president of Procision, represented Sandkris Properties in the $6.7 million transaction. The buyer, The Mygrant Living Trust, was represented by Jeremy Jensen of IPG Commercial Real Estate and Mike Borski Jr. of the Flynn Company.
The 20 acre parcel was purchased by an affiliate of Sandkris in May, 2019 with the intention to develop as an Industrial Build-to-Suit opportunity. Located in highly desirable Bucks County, the site is located just off Street Rd in the Ivyland Industrial Park. With its close proximity to the city of Philadelphia and the dense surrounding area, 350 Ivyland Rd. represents an ideal in-fill location.
In collaboration with ownership, Beach spearheaded the entitlement process and Sandkris secured approvals for a new 249,700 s/f industrial development. Prior to the sale, plans for the state-of-the-art class A building included 36’ ceiling height, single-sided loading, LED lighting, ESFR sprinkler system, up to 60 loading docks and parking for 194 vehicles.