Bill Goodwin, a senior vice president in the Philadelphia office of CB Richard Ellis, was the sole broker for the agreement of sale and long-term lease of the property. The aggregate value of the sale-and-lease agreement exceeds $3.5 million.
According to Goodwin, the building was built in 1980. Situated on a 3.4-acre site, it has 20-foot clear ceilings and 8,400 sf of finished office space.
Established in 1915 as an office products company, Ris Paper is a US subsidiary of the Montreal-based Domtar. Ris focuses on the sale of coated and uncoated papers, fine printing papers copier, laser and computer papers and industrial packaging products. Howard Ris had owned the property for a number of years, according to Goodwin.
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