Ostach & Pennington of Binswanger broker the sale of two industrial buildings totaling 51,181 s/f

May 28, 2020

Bensalem, PA — ­Binswanger Commercial Real Estate Services announced the sale of a 51,181 s/f building on 2.61 acres at 1296 Adams Rd., Bensalem. The deal was brokered by Jason Ostach, vice president and Chris Pennington, senior vice president and partner –both in Binswanger’s Philadelphia office.
Just 20 minutes from Center City Philadelphia, the property is situated directly on Adams Rd. in the heart of Bensalem offering nearby access to I-276, I-95, and other major regional highways. 
“With record-low vacancy rates in one of the most competitive industrial markets in Southeastern Pennsylvania, Binswanger was pleased to identify this opportunity, and negotiate an acquisition on behalf of Velocity Ventures,” said Pennington. “We look forward to continuing our work with Velocity to identify potential tenants in an effort to fully stabilize this asset.”
While the building is almost fully occupied with several tenants, there is 10,000 s/f of industrial space currently available for lease. This section features 18.5' clear ceiling heights, one drive-in and two loading docks. Additional features include a 100% Wet Sprinkler System, gas heat, finished office space (approx. 500 s/f), private outdoor storage lot/parking, two restrooms, and a shared kitchen area. 

 

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