DUMNORE, PA-An affiliate of Blue Bell, PA-based Equilibrium Equities Inc. reports it has purchased the former Ocean Logistics property in Keystone Industrial Park here.
No terms of the transaction were disclosed.
The 100 Keystone Industrial Park Road building totals 249,000 square feet on 22 acres of land. The former Ocean Logistics building was acquired and expanded by Super Market Services in the mid 1970s for use as a distribution center for the firm's health and beauty aid business. The property was vacated in the fall of 2011.
“We chose this well maintained property as our newest acquisition and redevelopment project because of its functionality and close access to the interstate system and major markets in the northeast,” states John Morris, senior vice -resident of Equilibrium Equities. Planned renovations will include improved exterior aesthetics of the property, minor building system repairs and energy efficiency upgrades.
Affiliates of Equilibrium already own a warehouse complex of 445,000 square feet in Dunmore and a warehouse of 150,000 square feet in Jessup, PA, approximately four miles from the 100 Keystone property.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
