(Read more on the industrial market.)

MECHANICSBURG, PA-The Morristown, NJ-based Hampshire Real Estate Cos. has acquired the 550,000-sf warehouse/distribution facility at 1225 S. Market St. The seller is BD Book Clubs/Bookspan, a direct marketer of book clubs, based in Garden City, NY.

The property sits on a parcel of approximately 102 acres, which, on condition of anonymity, a Central Pennsylvania industrial broker tells GlobeSt.com is zoned for potential significant expansion. He says, "this is the last tract here zoned for large industrial space development."

The price of the sales transaction is undisclosed, and calls to Hampshire and the brokers involved in the negotiations were not returned. A mid-year report from the Philadelphia office of Colliers Lanard & Axilbund puts the average sales price for industrial facilities of 100,000 sf and more at $44.22 per sf. On that basis, if applicable, this trade would have been in the range of $25 million, but the source, who declined to speculate on the price, says it was probably higher, considering the value of the land.