Philadelphia, PA-Allen Distribution, a third party provider of transportation and warehouse logistics, has purchased a 580,000 square foot distribution facility at 3041 Schoeneck Rd. in the Lehigh Valley. The purchase price was $22 million.
A team from Jones Lang LaSalle’s Philadelphia office represented Allen Distribution in the deal. That JLL team included VPs Kim Meincke and Jason Webb and managing directors John Van Buskirk and Brian Knowles. CB Richard Ellis represented the seller, Panattoni Development Co., but did not provide broker names in time for publication.
Kim Meincke, tells GlobeSt.com that the deal signals strong fundamentals in an area that has seen extremely high absorption the past year.
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