(Read more on the industrial market.)

YORK, PA-Newport Beach, CA-based Hager Pacific Properties has acquired the 112,500-sf industrial building at 3380 Susquehanna Trail from Chicago-based First Industrial Realty Trust. The price was approximately $5 million, or about $44.44 per sf.

The building was completed in 1992 and is currently fully leased to Starbucks Corp. “Starbucks has been there for about five years, and, on the distribution side, it's their policy to only sign relatively short-term leases,” says Robert Neal, a Hager managing partner. He tells GlobeSt.com the building was originally designed for two tenants and could be again demised for two occupants. The market rate rent, he says, is now $4.05 per sf net.