Class A industrial portfolio trades hands for $215m

JLL Capital Markets announced the sale of Core5 at Middletown, an industrial portfolio featuring two newly constructed, fully leased class A buildings located in Middletown, Penn.

JLL represented the seller, Core5 Industrial Partners, in the transaction. EQT Exeter Real Estate Income Trust acquired Building 1 for $170.5 million, while MDH Partners purchased Building 2 for $45.4 million.

Both buildings were delivered in 2023 and offer best-in-class, new-generation specifications for bulk-distribution full-truck circulation with multiple curb-cut entrances. The portfolio is fully leased to a global ecommerce leader with approximately 10-years of weighted average lease term.

Totaling 1.22 million square feet, Building 1, located at 3327 E Harrisburg Pike, features 40-foot clear heights, cross-dock loading, 224 dock doors, LED lights and an ESFR sprinkler system. Situated at 3751 E Harrisburg Pike, Building 2 spans 305,870 square feet, offering 36-foot clear hei