NAI Mertz Inks Over 169,000 SF of Industrial Transactions in Bucks and Montgomery Counties in Pennsylvania
NAI Mertz, a leading full-service commercial real estate firm serving southern New Jersey and greater Philadelphia, recently announced its Bucks County, Pa., brokerage team of Jeff Licht, SIOR, Senior Vice President and Adam Lashner, SIOR, Vice President closed over 169,000 square feet of lease and sales transactions in Bucks and Montgomery Counties in Pennsylvania.
“2016 was a very positive year for our firm, and we have continued our high sale and lease volume into the first half of 2017,” stated Licht. “The industrial sector is booming throughout the greater Philadelphia area and these transactions reflect the interest we are seeing from a myriad of companies that are attracted to this area,” he added.
The NAI Mertz team inked nine industrial transactions including:
- A 44,800-square-foot lease on behalf of Databank IMX, LLC, a data storage company, at 539 Jacksonville Road in Warminster, Pa. Erman Properties is the owner of the building.
- The sale of 4171 Stoney Lane, a 37,750-square-foot building in Doylestown, Pa. Lagomarsino Property Management, LLC purchased the building from Gretz Beverage Bucks, Inc. The new ownership is undertaking substantial improvements and renovations to the property. Once completed, the building will be occupied by TRC Electronics.
- A 20,000-square-foot lease on behalf of Marrero Glass & Metal at 406 Caredean Drive in Horsham, Pa. The company is expanding from its facility in Philadelphia. A 17,000-square-foot lease on behalf of Koffee Kup Bakery, Inc. at 539 Jacksonville Road in Warminster, Pa. The company manufactures and distributes assorted bread and bakery products.
- A 10,800-square-foot lease on behalf of AJM Industries, Inc. at 903 William Leigh Drive in Tulllytown, Pa. This is the company’s second location in Bucks County.
- A 6.940-square-foot lease on behalf of Craft Prop Masonry Restoration, Inc. at 69 Zimmerman Lane in Hulmeville, Pa.
- The sale of a 6,050-square-foot building at 890 Tennis Avenue in Bensalem, Pa. Jane Properties, LLC purchased the facility for its fire and water damage restoration business.
- A 6,000-square-foot lease on behalf of J. Marrazzo Landscaping & Nursery at 2400 Big Oak Road in Langhorne, Pa.
“At NAI Mertz we are uniquely focused on our clients’ business needs and providing them with expert market knowledge when choosing the perfect location and building,” added Lashner. “Philadelphia and its suburbs are ideally located for the trends driving industrial demand – namely next-day and last-mile delivery. As such, we expect the heightened deal velocity in the market will continue through the second half of 2017,” he added.
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About NAI Mertz
Founded in 1980, NAI Mertz is a leading full-service commercial real estate firm serving the southern New Jersey and greater Philadelphia areas. With offices in Mt. Laurel, NJ; Bucks County, PA; and NAI Mertz of PA in Wilkes-Barre, PA, the company provides expert services in brokerage, leasing, sales, investments, property management, site selection and construction management in the industrial, office and retail sectors. NAI Mertz’s clients include Fortune 500 companies, financial institutions, private investors, large public corporations and small businesses. Its partnership with NAI Global, one of the largest managed networks of commercial real estate service providers comprising 6,700 professionals in more than 375 offices in over 55 countries, enables the firm to provide large-scale global real estate services with a unique local expertise.
For more information on NAI Mertz, visit its web site at www.naimertz.com, or contact its Mt. Laurel, NJ, headquarters at 856.234.9600, or NAI Mertz of PA at 570.820.7700.