B&B Structures Buys 2200 Hathaway Road for $900K
LANCASTER, PA – October 14, 2011 – (RealEstateRama) — A 29,000-square-foot heavy industrial building located at 2200 Hathaway Road in Lancaster has traded hands, announced commercial real estate services firm Cushman & Wakefield, Inc. B&B Structures, a shed manufacturer located in Bird-in-Hand, Pa., purchased the property for $900,000.
Gerry Blinebury and Leah Balerno of Cushman & Wakefield’s Philadelphia industrial brokerage practice orchestrated the transaction on behalf of the seller. Scott Bradbury of U.S. Commercial Realty represented the buyer.
Located adjacent to Greenfield Corporate Center and Conestoga Valley High School, 2200 Hathaway Road became excess property for the owner last year, when that company consolidated its operations elsewhere in Lancaster County.
“This property came onto the market in late 2010, providing an unusual opportunity within the immediate market for a small industrial user to purchase space,” Blinebury said. “The benefits of its location, especially the ability for its occupant to take advantage of being next door to the region’s premier business campus, drew a relatively short marketing cycle and an attractive price for both parties considering overall economic conditions.”
2200 Hathaway Road offers proximity to Route 30 as well as Greenfield Corporate Center’s abundant amenities including hotels, shopping, dining and recreation.
Cushman & Wakefield, Inc.’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2010, this group completed more than 4,800 industrial real estate transactions – totaling 141.6 million square feet in leases and 52.9 million square feet in sales – with an aggregate value of nearly $5 billion. This represented a year-over-year revenue increase of 26.7 percent.
Evelyn Weiss Francisco: , (201) 796-7788, www.twitter.com/carylcomm