Cushman & Wakefield announced today that the real estate services firmhas facilitated the sale of 2750 Morris Road, a 667,019-square-foot multi-tenanted warehouse distribution facility in Lansdale. The final sale price was $33 million, equating to more than $49 per square foot.

A Cushman & Wakefield team of Gerry Blinebury, Gary Gabriel, Kyle Schmidt and Jonas Skovdal represented the sellers, Advance Realty and The Davis Companies, while The Flynn Company represented the buyer, Velocity Venture Partners, LLC, in the transaction.

”We continue to see strong tenant demand in the Southeastern Pennsylvania industrial market, largely driven by changes in consumer behavior where we’re seeing more and more goods purchased online,” said Gerry Blinebury. “The growth in ecommerce has created an increased demand for functional warehouse facilities closer to the population centers, both from users of real estate and institutional investors.”

2750 Morris Road is situated on 84 acres and is strategically located along the I-476 Corridor just four miles away from the Lansdale Interchange. Advance Realty and The Davis Companies have invested significant capital over the past five years transforming the property from a flex/office facility to a multi-tenant warehouse facility.

Located 26 miles from Center City, 2750 Morris Road offers convenient access to Interstate 476 at Exit 31 and Routes 202, 309 and 363, and is ideal for regional and last mile distribution.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.comor follow @CushWake on Twitter.