Schuylkill Haven, PA–April 20, 2016— CBRE Group, Inc. (CBRE) is pleased to announce that Stephen Marzullo and Adam Silverman of CBRE’s Philadelphia Commercial Investment Properties Team, along with Paul Touhey and Drew Green of CBRE’s Philadelphia Brokerage Services Group, have brokered the sale of an 85,113 square-foot industrial facility located at 3 Earl Street in Schuylkill Haven, Pennsylvania. The building is currently 100% leased by M&Q Packaging Corporation on a long-term basis and features office, production and warehouse areas.
The CBRE team, who represented the owner during the transaction, marketed the property by targeting the most active industrial property investors throughout the region. Within the first 10 days, several offers were submitted and the transaction was completed within 45 days.
“Our team continues to experience a strong influx of new capital into the Greater Philadelphia region for industrial property acquisitions including core stabilized offerings, value-add and repositioning opportunities and new construction,” said Stephen Marzullo, Senior Vice President, Capital Markets. “With long term financing rates remaining relatively low and development sites extremely limited, we expect this trend to continue throughout 2016.”
The facility, which was constructed in phases between 1969 and 2003, is located approximately 12 to 13 miles from both interstates 78 and 81.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
