ASB Real Estate Investments (ASB) has purchased the 929,250-square-foot Lehigh Valley West Industrial Portfolio, located in Berks County, Penn., for $77.6 million in a joint venture with an affiliate of Endurance Real Estate Group.
ASB made the investment on behalf of its Allegiance Real Estate Fund, a $8.3 billion core vehicle. The investment is ASB’s fifth with Endurance Real Estate Group.
Of the portfolio’s 12 buildings, nine totaling 466,420 square feet are located in the Berks Corporate Center, a concentration of infill, light industrial facilities providing direct access to a multi-directional interchange at State Route 61 and U.S. Route 222 in Reading, Penn. The largest building in the portfolio, 184 Tuckerton Road, with 392,030 square feet, is across the street from the Berks Corporate Center in the Route 61 Distribution Center. 10 Vanguard Drive, a multi-tenanted 57,600 square-foot shallow-bay facility, and 650 Lincoln Road, a single-tenant 13,200 squar
