Warehouse and 43 Acres to Sell for Under $9M

PARKESBURG, PA-The 212,500-sf warehouse on 42.5 acres at 3135 Lower Valley Rd. is being offered under variable lease or sale arrangements. Approximately 100,000 sf of the building is available for immediate lease, or the building alone or in a package that includes the adjacent acreage, is available for sale.

Steve Italiano, SVP, and Paul Touhey, an associate in the Wayne office of CB Richard Ellis, are exclusive agents for the property. The building is currently 50% leased to three credit-worthy tenants, Italiano tells GlobeSt.com. The asking rental rate for the remaining space is $3.65 per sf, triple-net, with four months free rent on a seven-year lease.

The asking price for acquiring both the building and the site, he says, is $8.9 million. “The parcel is zoned to accommodate either expansion of the existing structure or the construction of up to 300,000 sf of custom industrial facilities for occupancy on either a sale or lease basis,” he says, which opens the CBRE marketing efforts to not only potential tenants, but also to investors and developers. The building alone is also available for an asking price of $7.6 million.