PITTSTOWN, HAZLETON, and JESSUP, PA—KBS Real EstateInvestment Trust II, a non-traded real estate investmenttrust based in Newport Beach, CA, has sold I-81 IndustrialPortfolio, a 1,644,480 square-foot portfolio of fourindustrial warehouse and distribution buildings located within theI-78 / I-81 Corridor Market in eastern Pennsylvania.Chambers Street Properties, a Princeton, NJ REITfocused on acquiring, owning and operating net leased industrialand office properties, is the buyer.
One of the four buildings is a 140,800 square-foot high-bayindustrial building, and the other three are bulk industrial anddistribution buildings.
“This was an excellent opportunity for ChambersStreet to acquire a well-located, critical use, industrialportfolio with quality tenants at attractive pricing. This purchasebrings our total 2014 acquisitions to over $200 million and remainsconsistent with our strategy of purchasing U.S. industrial assetsin strong markets,” says Philip L. Kianka,executive vice president and chief operating officer ofChambers Street.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
