Lend Lease Sells Industrial Portfolio Totaling 665,000 SF

WOOLWICH TWP., NJ-Industrial properties, especially the warehousing and distribution variety, are still high on investors’ wish lists, even in the current flat real estate market. As one example, Lend Lease Real Estate Investments, Inc. has just sold a four-building industrial portfolio of more than 665,500 sf.

Two of the buildings are located here, while the other two are sited in New Castle County, DE. The buyer of the portfolio was Invesco Realty Advisors, which acquired them on behalf of an unnamed pension fund. Neither the sale price of the package nor the terms of the transaction were disclosed.

Douglas G. Joseph, first vice president, and Bill Goodwin, senior vice president of the Philadelphia office of CB Richard Ellis, arranged the sale on behalf of Lend Lease Real Estate Investments. CBRE’s Delaware Valley offices are located in Philadelphia’s Penn Center; Chesterbrook Corporate Center in Wayne, PA; in Harrisburg, PA and in suburban Wilmington, DE’s Greenville Center.