Procision Commercial Realty brokers the acquisition of
303,000 Sf Industrial Site in Warminster, PA
Warminster, PA ‐‐ Procision
Commercial Realty, an affiliate of Procision Business Brokers, represented LRS
Corp in the acquisition of 955 Mearns Road in Warminster, PA. This 303,000 SF facility
features flexible space including office, warehouse, and light
fabrication users.
At the time of closing, the building was 96.5% occupied and featured a varied
tenant mix and attractive lease terms.
The transaction was completed at just over $16 Million.
The seller, MIM-Hayden Mearns
LP, was represented by Dan Mayock and Adam Gillespie of SSH Real Estate. “955 Mearns was a great cash flow producer
for MIM‐Hayden," said Mayock. "In the past few years, every time a
tenant left the building they had a new tenant in place within months. It is a
testament to the newfound strength in the American manufacturing sector, and
how tight the industrial market is in Bucks County right now.”
Robert Beach, President of Procision
Commercial Realty handled the negotiations on behalf of the buyer and helped
them emerge from the competitive field of potential suitors. With a roster of quality
tenants, the building is anchored by several International tenants, including
SP Industries and ChemPump, who collectively occupy over 50% of the property. “Considering the limited
product available, 955 Mearns represented an excellent opportunity for my
client to acquire a quality asset with a stabilized and diverse tenant base. We
are quite pleased with the purchase,” said Beach.
About Procision
Commercial Realty
Founded
as a Business and Commercial Real Estate Brokerage, Procision Commercial Realty
offers one-stop, synergistic services for Business Owners, Investors, Landlords
and Tenants alike. Through their
Comprehensive Suite of Real Estate Services and Transaction Solutions,
Procision Commercial Realty serves the needs of the Greater Philadelphia and
South Jersey Region. For additional
information, please visit the company’s website at www.Procisionbb.com or contact Robert Beach at
856-228-5151.
http://procisionbb.com
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