Fine Print: Site sells for new Penn State-Abington housing, Lansdale industrial building trades for $19M
By Natalie Kostelni – Reporter, Philadelphia Business Journal
A roundup of recent real estate transactions across the Philadelphia region:
Velocity Venture Partners paid $19.5 million for 1180 Church Road, a single-story, 452,323-square-foot industrial building on 38 acres in Lansdale. DeSanto Realty Group sold the property, which was built in 1966. Chris Pennington and Tim Pennington of Binswanger arranged the transaction.
College Town Communities, a Philadelphia student housing developer, paid $2.5 million for 230 Fairhill St., a four-acre parcel in Willow Grove. The seller was Fairhill Properties LLC. The buyer plans to break ground this spring on a project with 132 apartments that will serve students at Penn State-Abington. Chris Pennington of Binswanger represented the seller.