A joint venture between Lightstone and an affiliate of Cerberus Capital Management announced the acquisition of an 812,425-square-foot, class A distribution center in Mechanicsburg, Pa. The building sold for $78.5 million.
JLL worked on behalf of the seller and arranged the buyer. JLL also represented the joint venture in securing $65 million in financing, securing a loan from a fund managed by Argentic Investment Management.
This warehouse is located on a 44.3-acre plot and was constructed in 2002. It offers a total of 82 dock-high doors, two drive-in doors 329 parking spaces, 109 trailer stalls and 195-foot truck court. The flexibility of the property is enhanced by the ability to add 10 potential loading positions, ensuring ample capacity for future growth and expansion.
The property is located at 360 Independence Ave., situated within the in-fill core pocket of the Central Pennsylvania industrial market, the West Shore of Harrisburg. The asset benefits from
