Fine Print: Site sells for new Penn State-Abington housing, Lansdale industrial building trades for $19M

1/15/2021

By Natalie Kostelni  – Reporter, Philadelphia Business Journal

A roundup of recent real estate transactions across the Philadelphia region:

$19.5M

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.

$2.5M

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.

Read the full article here.

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