Binswanger Secures Buyer For 25,032 SF Industrial Property In West Conshohocken
Beechnut Capital bought the property for $3,000,000 and will Occupy 11K SF
PHILADELPHIA, PA – January 28, 2020 – Binswanger Commercial Real Estate Services, an innovator in commercial real estate since 1931, today announced that it has brokered the sale of the property at 8 Union Hill Road in West Conshohocken, PA. The 25,032 SF property had been owned by Viking Associates III, L.P. and was sold to Beechnut Capital for $3,000,000.00. The transaction was brokered by Binswanger’s mid-Atlantic team including Mike Torsiello, Vice President, and Chris and Tim Pennington, both Senior Vice Presidents and Partners.
“This was a great opportunity for a user/investor like to purchase a building with plug and play flex space and strong rent roll,” stated Binswanger broker Mike Torsiello. “Having identified the buyer in a matter of weeks, the sale of this property validates that -despite the pandemic- there is consistent demand for industrial property in and around the Philadelphia market.”
Previously used by an electrical contractor, the property is set on 1.3 acres in West Conshohocken near the interchange for PA Interstate 476 and I-76. The property features 4,000 SF of office space, two drive-in doors (10’w x 12’h) with one for tailgate loading. The property is zoned Limited Industrial by the Borough of West Conshohocken.
As of December, Beechnut has been occupying the space for their industrial automation solutions operation.
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.