(To read more on the industrial market, click here.)
ALLENTOWN, PA-Conewago Equities LP has sold the 509,445-sfindustrial building at 200 Cascade Dr. and an adjacent 50,000-sfnewly constructed building in Lehigh Valley Industrial Park II toFirst Industrial Realty Trust for $25.1 million. The largerbuilding is the former Ross Bicycle Plant, which was completed in1971.
According to public records, Hanover-based Conewago acquired theRoss Bicycle site and building in November 1998 for $4.2 million,and the following year, paid $57,500 for the additional 10.4 acres.Jack Shepley and John Van Buskirk of the industrial propertiesgroup of Harrisburg-based NAI CIR located the buyer and representedConewago in the sales transaction. First Industrial was representedin house.
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