(To read more on the industrial market, click here.)

ALLENTOWN, PA-Conewago Equities LP has sold the 509,445-sf industrial building at 200 Cascade Dr. and an adjacent 50,000-sf newly constructed building in Lehigh Valley Industrial Park II to First Industrial Realty Trust for $25.1 million. The larger building is the former Ross Bicycle Plant, which was completed in 1971.

According to public records, Hanover-based Conewago acquired the Ross 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 properties group of Harrisburg-based NAI CIR located the buyer and represented Conewago in the sales transaction. First Industrial was represented in house.

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