CARLISLE, PA—American Realty Advisors has acquired the 700,000 square-foot warehouse/distribution property at 2 Ames Drive in Carlisle, PA, from a joint venture between Dermody Properties and PCCP. The class A building, on over 53 acres, is currently fully leased to a Fortune 50 tenant through 2024. Terms were not disclosed.
“This property is an ideal addition to our core industrial portfolio. The center's great location in a key logistics market, its high quality construction, and the fact that it is fully leased long-term to a credit tenant are three factors that we believe will provide our investors with an attractive current income stream,” says Eric Cannon, American's senior director, investments.
The seller was represented by Michael Hines and Brian Fiumara of CBRE National Partners.
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