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Self-Storage Firm Buys Three-Acre Parcel in Bensalem, PA

PHILADELPHIA-Kramont Realty Trust pares off the unencumbered outparcel at its

By Marita Thomas | Updated on January 24, 2003

PHILADELPHIA-Plymouth Meeting, PA-based Kramont Realty Trust sells an unencumbered, three-acre outparcel at its Bensalem Square property in Bensalem, PA in Bucks County to Memphis-based Premier Storage Solutions for $740,000, or about $247,000 an acre.

Kramont will record a gain of approximately $600,000 from the transaction. Premier, a real estate investment and development firm, will build a self-storage building on the land.

Public Square is a 73,000-sf shopping center at the intersection of Knights and Dunks Ferry Roads. It has 11 retail units and is anchored by a 47,726-sf Pathmark. Among the other tenants are GameStop, Nicolini’s Pizza, Salut Restaurant, St. Mary Children’s Health Center, and the Mother Bachman Maternity Center.

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