(Read more on the industrial market.)
PLYMOUTH MEETING, PA-Exeter Properties Group, a new privateequity fund based here, has acquired two warehouse properties foran aggregate of $7.1 million. One is a 41,000-sf building at 2150Cabot Blvd. in the Bucks County Business Park in Langhorne, and theother is a 70,000-sf facility at 804 E. Gate Dr. in the East GateCorporate Center in Mt. Laurel, NJ.
Both properties are 100% leased. Exeter paid $3.4 million, or$82.93 per sf, for the Langhorne property. The tenants are HydnogelDesign Systems and American Trans Freight. The seller, identifiedas 2150 Cabot Ltd. Liability Corp., is a private real estateinvestment entity, according to Richard Smith, principal of FortWashington-based Avir Realty Group Inc.
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