HAZELTON, PA — CBRE Capital Markets recently completed the sale of a three-building portfolio in Pennsylvania and Wisconsin. The portfolio is currently 100 percent leased to a single tenant on long-term leases.
Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz in CBRE’s Minneapolis office represented the seller, a Miami-based family office. The buyer is a joint venture between Brennan Investment Group LLC and a client of Arch Street Capital Advisors, LLC. The sale closed July 20, 2018.
The portfolio totals 500,081 s/f with buildings located in Appleton, Wisconsin and Hazelton, PA. Properties sold include:
• Appleton, Wisconsin, a two-building portfolio consisting of 295,000 s/f on a 13.02-acre site
• Hazelton, PA, a single building consisting of 205,320 s/f on an 11.63-acre site.
“With the long-term leases currently in place, this portfolio is a sound investment that offers stable cash flow for the new owner,” said Welliver, senior VP, CBRE.