MECHANICSBURG, PA—Woodmont Industrial Partners has sold 34 Dauphin Drive to Exeter Property Group for $8 million. WIP acquired the 180,333 square-foot, rail-served distribution center in November 2012 and after completing extensive renovations, leased the facility to Allen Distribution, a third-party logistics provider.
WIP completed an intensive 6-month rehab, upgrading the building to modern standards, including the incorporation of an ESFR Sprinkler system and T-5 lighting, among other improvements. The building, which sits on 10.64 acres of land and can support the space requirements of single or multiple tenants, features 3,200 square feet of office space, 24-foot-high ceilings, 20 dock positions and 10 rear rail doors.
Situated approximately 12 miles south of Harrisburg, 34 Dauphin Drive is located in an established industrial park on Route 11 near I-76 and 81.
“We were able to highlight the prime location of this property in the heart of Central Pennsylvania and the success of our renovation program, which has helped to position this facility strongly among tenants looking for modern features,” says Eric Witmondt, principal of Woodmont Industrial Partners. “This sale will enable us to redeploy capital into future investment opportunities as we look to expand our footprint throughout New Jersey, Central Pennsylvania and the Lehigh Valley.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
