Jeff Licht of NAI Mertz Sells Third Building on Same Street to JG Petrucci
Southampton, PA- NAI Mertz is pleased to announce the sale of 65 Steamboat Drive in Warminster, Bucks County, PA to JG Petrucci. The team of Jeffrey Licht and Adam Lashner were responsible for the marketing of this asset.
65 Steamboat is a 110,000 square foot hi-tech industrial facility on 7+ acres. The building features 15,000 square feet of office space, is 100% air-conditioned, heavy power, 15-24' ceiling height, 12 tailgate doors and 1 over-sized drive-in door. The building has been prepared for multi-tenancy and NAI Mertz has already leased 65,000 square feet to IWCO. Licht and Lashner now seek to lease out the remainder 45,000 square feet.
Jeff Licht was the point man for this project and worked together with Seller, L & L Properties, and JG Petrucci to realize this second transaction between same parties as last year Licht sold 375 Jacksonville, a 67,000 square foot first class warehouse distribution center on 10 acres.
"JG Petrucci was the natural buyer of these two properties as a direct result of their well deserved success at Station at Bucks County", said Licht. Station at Bucks County represents the redevelopment of the former Drager Medical property into a luxury unit residential transit community. The recent property purchases are located directly across the street and contiguous to each other to ensure Bucks Station Phase 2 and maybe even Phase 3, if deemed appropriate at some point in the future. Licht continued, "It has been a pleasure to work together with Jim Petrucci and Greg Rogerson to complete the hat trick sale of these three properties. JG Petrucci and my Sellers, L & L Properties, were the perfect pairing of parties to work together with toward this result. I am grateful to be involved in these transactions which will yield the second phase of a first class multi-use redevelopment project for the residents of Warminster Township."
Licht, Senior Vice President at NAI Mertz, was recognized as Broker of the Year by JG Petrucci via receipt of their "2013 Leadership Award".
JG Petrucci Principal, Greg Rogerson commented, "Transacting business with Jeff is always professional and his upbeat personality makes it fun too. He is always positive and prides himself on creating ‘win-win’ scenarios. It's difficult not to become a new friend of Jeff's if afforded the opportunity to transact business together."
About NAI Mertz
NAI Mertz is a leading commercial and industrial real estate firm in the Greater Philadelphia area with complete real estate services, including commercial, land, industrial, retail, site selection, and investment. NAI Mertz is the South Jersey representative for NAI Global and the Industrial Member representative for Greater Philadelphia. NAI Global is the largest managed network of commercial real estate service providers, comprising 5,000 brokers in 350 offices serving over 55 countries throughout the world. NAI Mertz of PA is the NAI Global representative for the Scranton/Wilkes-Barre, PA area and Northeastern Pennsylvania.
J.G. Petrucci Co., Inc (“JGPCO”) is a fully integrated, privately-held commercial real estate organization with more than 23 years experience in the design/build, development, re-development and acquisition of industrial, office, healthcare, retail, multi-family and other properties. The company’s portfolio also comprises a broad range of brownfield and adaptive reuse projects, as well as expertise in green building. In addition, JGPCO is recognized as a leader in both the New Jersey and Pennsylvania markets with a client and tenant roster that includes organizations such as Merrill Lynch, Weyerhaeuser Co., Federal Express, Cryovac/Sealed Air, Gargiulo Produce, St. Luke’s Hospital & Health Network, Flemington BMW and Synchronoss Technologies, among others. JGPCO presently holds an investment portfolio of over 3 million square feet of prime industrial, retail and office space. The firm is based in Asbury, New Jersey and also maintains offices in the Lehigh Valley, Pennsylvania.