Cushman & Wakefield announced it has arranged the sale of 22 Stauffer Industrial Park Dr., a 711,200-square-foot (sf) industrial building in Taylor, PA. The final sale price was $30,000,000.
The Cushman & Wakefield team of Gerry Blinebury, Gary Gabriel and Daniel Walsh represented the seller and was the sole broker in the transaction.
“This transaction further reinforces the attention Northeast Pennsylvania has captured from the institutional real estate community,” said Gerry Blinebury, vice chairman at Cushman & Wakefield. “The surge in tenant demand is clearly being followed by demand for ownership positions from the capital community. This market is thriving due to its ease of access to population density along the east coast, including the ability to make daily truck trips in and out of New York City, Philadelphia, Pittsburgh, Baltimore and Washington, DC.”
22 Stauffer Industrial Park Dr. is one of three buildings a part of an industrial portfolio located in the highly regarded and proven park, Stauffer Industrial Park, which has a longstanding history of strong occupancy and institutional ownership. It is positioned with competitive loading and parking and features 179 dock doors and 35' clear height. It is also located within the Northeastern Pennsylvania submarket, one of the strongest performing submarkets within the Northeast United States over the past two years. Northeastern Pennsylvania offers a deep labor pool, direct access to a Norfolk Southern Intermodal facility and is situated at the confluence of Interstates I-81, I-80, I-476, and I-380.
The property is 100 percent leased.
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.com
