The buildings at 1420 Phoenixville Pike total 68,000 sf, of which 52,000 sf are vacant. As GlobeSt.com previously reported, Keystone put the property up for sale in preparation for relocation to a new 28-acre "heliplex" in Coatesville, following Hartford, CT-based Sikorsky's acquisition of Keystone, in December 2005. Keystone, which now operates as Keystone Helicopter Holdings, recently moved to the new location.
In January, Keystone enlisted John Morrissey, Neil DeRiemer and MaryFrances McGarrity of King of Prussia-based Jackson Cross Partners to market the Phoenixville Pike site. Eric Gorman, also with Jackson Cross, represented Giles & Ransome in the transaction.
DeRiemer previously told GlobeSt.com the asking price for the full package was $5.8 million. However, citing a confidentiality agreement, both Morrissey and DeRiemer declined to disclose the final selling price.
Percy Ransome and Arthur Giles founded the company in Philadelphia in 1916 to distribute concrete and masonry equipment throughout the Delaware Valley. In 1931, it switched course to become one of the first equipment dealers for Caterpillar. It now provides Caterpillar rentals and service and parts operations. "This high-visibility location with more than 1,000 feet of frontage on Route 202 is ideally suited to the company's expanding services to customers in Chester and Lancaster counties," Morrissey says.
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