The sellers are Mark G. Caldwell and Martin L. Grass, trading as Double M Development Co. The Cassidy and Pinkert brokerage firm represented both the buyer and seller in the transaction.
"We had identified this property in late 2002 as a potential acquisition due to its strategic location in the East-shore submarket of Harrisburg, located just east of I-283 near Exit 19 of the Pennsylvania Turnpike," says A. Donald Chase Jr., senior vice president of investments for Keystone, in a statement. He adds the purchase "represents our continued commitment to one of the strongest warehouse/distribution markets in the Eastern US."
The acquisition follows Keystone's purchase last month of a 500,000-sf distribution center in Carlisle, PA and a 289,242-sf facility in Wilkes-Barre, PA.
President David Simson, director of corporate services Joe Boiseau, and director of financial services Gary Tse in the Parsippany, NJ office of NewYork-based GVA Williams partnered with GVA Gelcor in representing both the buyer and seller in the Carlisle transaction.
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