BINSWANGER ANNOUNCES THE SALE OF A 51,181 SF INDUSTRIAL BUILDING IN BENSALEM, PA
The nearly fully occupied facility was purchased by Velocity Ventures.
PHILADELPHIA, PA – April 29, 2020 – Binswanger Commercial Real Estate Services, an innovator in commercial real estate since 1931, today announced the sale of a 51,181 SF building on 2.61 acres at 1296 Adams Road, Bensalem, PA. The deal was brokered by Jason Ostach, Vice President and Chris Pennington, Senior Vice President and Partner –both in Binswanger’s Philadelphia office.
Just 20 minutes from Center City Philadelphia, the property is situated directly on Adams Road in the heart of Bensalem offering nearby access to I-276, I-95, and other major regional highways.
“With record low vacancy rates in one of the most competitive industrial markets in Southeastern Pennsylvania, Binswanger was pleased to identify this opportunity, and negotiate an acquisition on behalf of Velocity Ventures,” stated Chris Pennington, Senior Vice President and Partner, Binswanger. “We look forward to continuing our work with Velocity to identify potential tenants in an effort to fully stabilize this asset.”
While the building is almost fully occupied with several tenants, there is 10,000 SF of industrial space currently available for lease. This section features 18.5′ clear ceiling heights, one drive-in and two loading docks. Additional features include a 100% Wet Sprinkler System, gas heat, finished office space (approx. 500 SF), private outdoor storage lot/parking, two restrooms, and a shared kitchen area.
For more information on the available space within 1296 Adams Road, please contact Jason Ostach at firstname.lastname@example.org or call 215.448.6021. Additionally, Chris Pennington can be reached at email@example.com or by phone at 215.448.6053.
About Velocity Venture Partners
Velocity is a Philadelphia-based developer of industrial and flex properties. The firm was founded in 2017 by Tony Grelli & Zach Moore and currently owns and manages close to two million sq. ft. of industrial real estate in Southern New Jersey and Southeastern Pennsylvania. Velocity raises acquisition capital from high net worth investors and family offices throughout the United States. For more information or to contact the team, please visit www.velocityinv.com.
Binswanger, a global leader in full-service commercial real estate, has been helping its clients realize their full real estate potential since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate has the ability to strengthen businesses and transform communities. The company offers a variety of services benefitting both owners and occupiers including global real estate brokerage, location consulting, investment sales, tenant representation, corporate advisory, strategic consulting and a variety of management services. Having worked with more than half of the Fortune 500, the employee-owned company has long been known as the industry leader in the acquisition and disposition of industrial and commercial facilities around the globe. For more information, please visit www.binswanger.com.