Spencer paid $350,000, or $29 per sf, which is about $10 per sf more than the annual rental of similar space.
Timothy A. Bruder, Wayne M. Hunt and William G. Finnegan of the Cushman & Wakefield of Pennsylvania represented the seller. Veda Bussing and Larry Helman of the local office of Coldwell Banker represented Spencer.
Local real estate investor PC Associates acquires a single-story, 12,750-sf building in Conshohocken, PA, which includes 2,000 sf of office space and a 10,750-sf warehouse area with four drive-in doors, from Philadelphia-based Heil Equipment Co.
The price is undisclosed, but area brokers confirm "it was under $300,000." PC plans to renovate it to meet demand for small industrial space in Conshohocken, where the asking rental rate for industrial is between $4.50 per sf and $4.75 per sf.
King of Prussia, PA-based Morrissey Partners and the Philadelphia office of Grubb & Ellis represented Heil.
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