The Hampshire Companies has sold a 596,703-square-foot industrial building in Mechanicsburg, PA to Allen Distribution. The one story property is currently 65 percent leased and offers 205,858 sq ft of vacancy that feature ceiling heights of up to 30 feet. In all, the property offers 747 car parking spots, 24 trailer stalls, and 58 loading doors. The property is a 15-minute drive to the Harrisburg International Airport and within a 20-minutes of FedEx and UPS ground services. Cushman & Wakefield’s Gerard Blinebury, Executive Director, Marie Connell, Director and Samantha Kennedy, Associate brokered the deal. Terms of the deal were not disclosed.
“We had the opportunity to achieve our projected returns for investors by disposing the asset to Allen Distribution, a user that could take advantage of the current vacant space,” said Igor Derbaremdiker, Director of Dispositions at The Hampshire Companies. “Our ability to achieve the optimal return was based in part on our ability to identify, ascertain and articulate the value related to the expansion opportunity which can be realized by the new owner.”
