Watson Realty Acquires Sanford Industrial Property

Watson Realty Associates has purchased a 341,250 square foot industrial building in Sanford, North Carolina for an undisclosed price. Binswanger, an international full-service real estate organization, handled the transaction; terms of the deal were not disclosed.

Located at 541 Harvey Faulk Road in Sanford, the industrial property sits on 23.13 acres located just west of Highway 87 at the southern terminus of the Highway 421 bypass. The building was constructed in 1989 and features roughly 10,000 square feet of office space, a reinforced concrete floor, an insulated metal roof, and paved and marked parking for several hundred vehicles.

For more news and information visit Blumberg Capital Partners.

Endurance Buys York Industrial Building

ASI York, LLC, an affiliate company of Schottenstein Property Group, Inc. (SPG), sold a 624,800 square foot distribution building in York, Pennsylvania for $26 million this month. In a deal brokered by Philadelphia- based Binswanger, Endurance Real Estate Group, a diversified regional real estate company that focuses on projects in the Mid-Atlantic States, picked up the single-story distribution center. The property at 325 South Salem Church Road is located in the West Manchester Township Corporate Center, just off Route 30 and is nearby I-83.

According to a GlobeSt.com article, SPG owns interest in a diverse portfolio of more than 156 properties in 27 states in excess of 21 million square feet of gross leasable area. SPG properties are predominately anchored by national retail tenants including American Signature Inc., DSW, Inc., Bed, Bath & Beyond, Inc., Wal-Mart Stores, Inc., and TJX Companies.

For more news and information visit Blumberg Capital Partners.

Townsend Farms Buys Warehouse in Vineland

Vineland Development Corporation sold a 215,508 sq. ft. manufacturing and cross-dock warehouse building in Vineland, New Jersey this month for $2,100,000 according to a National Real Estate Investor article. In a deal brokered by Binswanger, Townsend Farms bought the property at 3501 South East Boulevard. Townsend Farms, which grows, processes, and delivers premium berries, plans to use the facility for processing and freezing fresh berries from local growers.

The building was originally constructed for the Rennoc Corporation as a garment manufacturing facility. A multi-million dollar renovation of the property will include raising the ceiling height in a portion of the building, adding freezer space as well as processing equipment. General Mills leases a portion of the building and will remain as a tenant.

For more news and information visit Blumberg Capital Partners.