Lee & Associates of Eastern Pennsylvania, a fully-integrated commercial real estate brokerage and management firm, has brokered the sale of a two-building portfolio in Susquehanna Township, Pennsylvania containing just over 62,000 square feet of flex space to Cordaro Realty Holdings, LLC for an undisclosed price. Bradley Swidler, Principal for Lee & Associates of Eastern Pennsylvania, represented the seller, Edrop Properties, LP in this transaction.
The buying entity is the holding company for CRH Catering, recognized as among the largest food and beverage distributors in the Mid-Atlantic region, offering a comprehensive line of automatic food service equipment including micromarkets, coffee services and vending machines for industrial and commercial office environments. Serving a geographic region spanning Pennsylvania, Maryland, Virginia and West Virginia, as well as sections of New Jersey and North Carolina. The privately-held company is relocating its Harrisburg, Pennsylvania branch to the newly acquired property. CRH Catering is part of the USConnect family of companies.
Located at 3303-3307 N. Sixth Street and contained on a 2.9-acre parcel, the buildings are approximately 51,200 square feet and 10,870 feet in size respectively. One of the assets is equipped with five truck height doors and both feature close proximity to PA Routes 22 and 322, as well as Interstate 81. Harrisburg International Airport is approximately 16 miles away and Philadelphia is 110 miles from the portfolio.
“This represented an excellent investment opportunity for CRH Catering that will enable the company to build equity in its owned real estate,” explained Bradley Swidler of Lee & Associates of Eastern Pennsylvania. “CRH Catering has an excellent grasp of its long-term expansion requirements, and these assets provide the required space for its operations and logistics both now and in the future. The buildings were excellently maintained and minimal retrofitting will be needed to support the company’s needs. Securing another central Pennsylvania location was an extremely critical aspect of the real estate search, as it will enable CRH to conveniently access its Central Pennsylvania customers.”
Celebrating more than 40 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Toronto, Ontario, Vancouver BC and Wisconsin. With more than 1,200+ brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level.
LEE & ASSOCIATES OF EASTERN PENNSYLVANIA, LLC (LAEP) was founded in 2015 under the leadership of Principals Brian Knowles, CCIM, SIOR, and John Van Buskirk, SIOR, and has since grown to a 30-person enterprise with 16 Principals, and offices located in suburban Philadelphia and Central PA. Licensed in five states, LAEP offers clients a full-service experience, with robust agency leasing, tenant representation, capital markets and property management capabilities throughout Pennsylvania, New Jersey and Maryland. From the beginning, LAEP has committed to providing its clients and brokers with market-leading research and transaction support. For the latest news from Lee & Associates of Eastern Pennsylvania, follow us on Facebook, LinkedIn, Instagram and Twitter or visit us on the web at http://www.lee-associates.com/pennsylvania
