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Five-Building Lehigh Valley Campus Changes Hands

ALLENTOWN, PA-CD Realty Advisors acquires the fully-leased, class A office/flex complex from California-based Glenborough Realty Trust for an undisclosed price. Tenants include Wells Fargo, Kraft Foods and Dun & Bradstreet.

By Marita Thomas | Updated on December 17, 2003

ALLENTOWN, PA-San Mateo, CA-based Glenborough Realty Trust sells the five-building, 163,405-sf Lehigh Valley Executive Campus situated on 16 acres here in Hanover Twp. to CD Realty Advisors. The property is fully leased. Among the tenants are Wells Fargo, Kraft Foods, Dun & Bradstreet, AC Nielsen, Fresenius Medical Care, Manpower, Teradyne and Airborne Express.

Sale price of the complex, which was developed by locally based Walter Lamb in the mid-1980s, is undisclosed. Area brokers decline to speculate on the price, but one, on condition of anonymity, says the average rental rate in the one-story buildings is between $11 per sf and $12 per sf.

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