Cushman & Wakefield Completes Sale of 113,000-Square-Foot Pennsylvania W/D Facility
Buyer will Utilize the Location for the Distribution of Tires.
- (1888PressRelease) August 06, 2014 - Commercial real estate services firm Cushman & Wakefield has completed the sale of 3380 Susquehanna Trail North, a 113,000 square-foot warehouse/distribution facility in York. The firm's Harrisburg, Pa.-based team of Pat McBride, Gerry Blinebury and Adam Campbell, along with Leah Balerno and Marie Connell in Philadelphia represented seller Hager Pacific Properties of Newport Beach, Cal. Buyer Americana Development was represented by Jack Shepley of NAI CIR.
Americana Development is a part of the Kenda group Companies, and the latter will utilize the location for the distribution of tires following this user acquisition. "They approached our team and inquired about the availability of this facility, which was leased at the time, and we are pleased to have been able to complete this transaction," said McBride. "Kenda Tires relocated from a leased facility in the York area."
Constructed in 1990 and situated on 10.6 acres, 3380 Susquehanna Trail North had been acquired by Hager Pacific in 2007 and subsequently upgraded. It is located near Exit 24 of I-83, and features 21-foot clear ceilings and nine dock-high loading doors.
"The York County submarket for industrial continues to be very tight, with vacancies in the four percent range," said McBride. "Given the market fundamentals, we see the possibility of new speculative and build-to-suit development in this market."
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 2013, globally, this group completed nearly 8,900 industrial real estate transactions totaling 348 million square feet, with an aggregate value of $13.3 billion.
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