A release from Stubblebine indicates that Kohn bought the property in an effort to complete a 1031 tax-free exchange. The 20,000-sf industrial building is located close to the Route 129/Route 93 interchange. The building, which is situated on four acres, was built in 1985 and features 12-ft clear ceilings as well as surface parking and two loading docks.
According to Spaulding & Slye Colliers' most recent statistics, the area's industrial market has an availability rate of nearly 30%. The average asking rent for industrial space in the area is about $6 per sf.
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