(Read more on the industrial market.)
LOWER NAZARETH, PA-Eden Prairie, MN-based SuperValu Holdings Inc. has sold the 232,180-sf industrial building at 3747 Hecktown Rd. The buyer, Philips & Philips, paid $10 million, or $43 per sf, for the building, which it will occupy.
The property is zoned LI Campus for warehouse distribution, light manufacturing and industrial office use. It contains a mix of warehouse, office, mezzanine storage and space for aerosol storage. It has a 25-foot minimum ceiling height, 40-foot by 40-foot column spacing, 25 loading dock doors and is fully sprinklered. The location is off Route 33 with direct access to Route 22 and Interstates 78 and 80.
Philips & Philips is a US affiliate of the Amsterdam-based maker of consumer electronics and lighting. "This facility offers Philips & Philips an outstanding location, amenities and working environment for its employees," says Michael Bartolacci, SVP in the Bethlehem office of the Chatham, NJ-based Garibaldi Group/Corfac International.
Bartolacci and Gerald Moore, managing director of financial services in the same Garibaldi office, represented SuperValu in the transaction. Allentown-based Hawley Realty Inc. represented the buyer.
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