Representatives from High Street could not be reached forcomment. However, Dan Coughlin, CEO of High Street wrote in arecent white paper titled Industrial Assets in a Recession,"the current market does not suffer from an oversupply of space. Infact, the industrial market has usually maintained a relativebalance, as the product can be started and stopped with a veryshort lead time."

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[IMGCAP(2)]Plans for capital improvements and upgrades are inthe works, but sources did not provide specifics or timelines. Atthe moment of the transaction, the Bucks County portfolio was 93%occupied by 43 tenants and the Lehigh Valley portfolio was 94%occupied by 17 tenants.

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The portfolio in Bucks County was purchased for $50.4 millionand is made up of 12 class B+ light industrial/R&D Flexbuildings totaling 649,634 sf. The properties are located at 2000,2005, 2010, 2200, 2260-2270 and 3000 Cabot Blvd., Langhorne, PA,180 Wheeler Ct., 835 Wheeler Way, Langhorne, PA, 2512, 2515 and2540 Metropolitan Dr., Trevose, PA and 4667 Somerton Way, Trevose,PA. The buildings have been under the same owners for 10 years andmaintained by the owners.

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High Street paid $20.1 million for the 314,161 sf Lehigh Valleyportfolio, which is made up of six class B+ light industrialbuildings. The properties are located at 964, 966 and 999 PostalRd. and 7331, 7350 and 7377 William Ave. in Allentown, PA.

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Buildings in both of the portfolios finished constructionbetween 1974 and 1989 and made of either concrete block and brickconstruction or metal construction with standing seam metalroofs.

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High Street has other properties in the Commonwealth inPhiladelphia, Pittston, Bethlehem, Harrisburg and Valley Forge.

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