LANGHORNE, PA AND CHARLOTTE, NC—Cincinnati, OH-based Viking Partners Fund, a private equity real estate investment firm focused on the acquisition, turnaround and disposition of value-add real estate and real estate related assets, has acquired Bucks Town Corporate Center in Langhorne, PA, and Forest Park 1 in Charlotte, NC. Financial terms were not disclosed.
The Bucks Town Corporate Center was previously owned by an affiliate of LNR Property Corp. in Miami, FL, which acquired the asset in March 2017 from Lingwood Partners. Lingwood acquired the property from Liberty Property Trust in Setpember 2007 for $20 million, according to Real Capital Analytics, a proprietary research database that tracks commercial real estate transactions.
“Both Bucks Town and Forest Park fit well within Viking's business model of uncovering value-add assets in key strategic markets and implementing well thought redevelopment plans,” says Bret Caller, principal with Viking Partners. “We feel there is tremendous upside opportunity with each of these assets.”
Bucks Town Corporate Center is a 142,000 square-foot, five-building office/flex complex located at Middletown Blvd. and Town Center Drive in Langhorne. Bucks Town is adjacent to Oxford Valley Mall and convenient to both I-95 and State Route 1.
Forest Park 1 is a two-building asset totaling 52,175 square feet located on Forest Park Circle in southwest Charlotte near I-77, I-485 and Charlotte Douglas International Airport.
Leasing for Bucks Town Corporate Center is being handled by Matthew Shanahan with Colliers International in Philadelphia. Forest Park 1 is being leased by Kris Westmoreland and Grant Keyes with Cushman & Wakefield in Charlotte.
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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].
