LOGAN TWP., NJ-The Philadelphia-based Corvest Realty Group has bought two 100%-leased industrial properties from Liberty Property Trust. Food preparer Missa Bay is the sole tenant for both.
Joe Hill of the Flynn Co. was the sole broker. The official selling entity, Liberty Venture 1, made the deal with Corvest, which has Michael K. Corenzwit and Asher G. Hyman as general principals along with an unnamed joint venture partner.
"This acquisition provides us with the opportunity to buy extremely well-located, strong and stable income-producing properties with significant upside potential by way of future appreciation," says Corenzwit, who is also president and CEO of Corvest. "Both buildings have been extremely well-maintained and are institutional-quality warehouses in terms of their construction, ceiling height, column spacing, dock doors and loading facilities."
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