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Vartan Sells Gold LEED Lab for $29M

HARRISBURG, PA-The design specs are instrumental to attracting tenants to this facility--the state's EPA signed a 20-year lease after the building was retrofitted.

By Erika Morphy | Updated on February 07, 2008

HARRISBURG, PA-The first laboratory to achieve Gold LEED certification has traded hands here in a recent deal. The 109,645-sf lab was acquired by a local investor, Roebling Investments of Hackensack, NJ, for $28.5 million. It acquired the building from its developer, Vartan Group, which had retrofitted the facility to the environmentally-friendly standard several years ago in response to a tenant’s request. Justin Shoemaker of NAI CIR in Harrisburg, represented the owner. Hal Messer of NAI Hansen, Hackensack represented the buyer.

Shoemaker tells GlobeSt.com that the LEED specs were very attractive to the buyer, although it did not set out to acquire such a building. “This was an institutional grade investment and buildings like these are still very much in demand by all kinds of buyers.” Designed to LEED, though, “was certainly icing on the cake as new lease requirements for LEED certifications by corporations and government entities make owning such buildings much more appealing.”

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