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Cushman & Wakefield secures listing as result of Carson Companies Eight-Building Acquisition in Bucks County, PA

| November 2, 2016 | 0 Comments

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BRISTOL, Pa., Nov. 2, 2016 – Commercial real estate services firm Cushman & Wakefield has orchestrated the transaction of an eight-building industrial portfolio in Bristol, Bucks County. Carson Companies acquired the assets, totaling 475,910 square feet and located within Keystone Industrial Park.

“This portfolio sits in the heart of the most well-established industrial concentration in the Suburban Philadelphia marketplace,” noted Cushman & Wakefield Pennsylvania industrial specialist Gerry Blinebury, who brokered the transaction with Jeff Williams and Robert Yoshimura. “Its widely marketed offering drew significant interest from a variety of investor profiles – including local, national and international investors.”

The properties include 2530 and 2578 Pearl Buck Road; 2524 and 2554 Ford Road; 160, 171 and 219 Rittenhouse Circle; and 130 Wharton Road. Ranging from 31,000 to 112,000 square feet, they collectively were approximately 40 percent occupied at the time of the sale. Tenants included FedEx, Philadelphia Media Network, Vivint Solar and Autopart International, among others.

“Together, the buildings offer both cash-flow stability and value-add upside through increased occupancy,” Blinebury noted. “Over the past decade they have been institutionally owned and managed, resulting in well-maintained spaces for both existing tenants and the vacant suites. The irreplaceable location and strong regional demand for well-located infill industrial space presented an attractive opportunity for Carson Companies to establish critical mass in a key market.”

The new ownership subsequently retained Cushman & Wakefield as exclusive leasing agent for the portfolio. Available suites range in size from 5,000 square feet to 112,000 square feet. Jonas Skovdal is leading the assignment.

“Lower Bucks County is a mature market and one of the strongest industrial submarkets in Southeastern Pennsylvania,” Skovdal said. “Keystone Industrial Park sits at the crossroads of the New Jersey and Pennsylvania Turnpikes, Interstate 95 and Route 1, offering easy access to the Philadelphia and New York metropolitan population centers. As such, it is seeing a significant increase in demand from e-commerce users looking to solve their last-mile needs. Within this context, the Carson Companies portfolio is well positioned to benefit.”

Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management and industrial consulting including labor and demographic analysis. In 2016 globally, this group completed more than 4,799 industrial lease and sale transactions, including Capital Markets transactions, totaling nearly 185.8 million square feet with an aggregate value in excess of $6.2 billion.

 

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

 

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Evelyn Weiss Francisco
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Caryl Communications
201-796-7788
evelyn@caryl.com

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Category: Cushman & Wakefield National Industrial, Cushman & Wakefield Philadelphia, News Releases, News Releases, Newswire: Latest News

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