Three Delaware County Properties Trade Hands

In the largest of the transactions, PWS Realty LLC acquired the 14,000-sf office building at 5000 Hilltop Dr. here from Going LP for $1.8 million. The property includes surrounding land suitable for development. Justin M. Soss, VP, and associate David Ruffini of Chadds Ford-based KarMar Realty Group were the listing and selling brokers.

In an unrelated transaction, Rebar Enterprises sold a 60,000-sf industrial incubator building and 1.5 acres suitable for development at 100 Mill St. in Clifton Heights to Woodgate Enterprises for more than $1.6 million or about $27 per sf. J & L Realty represented Woodgate, and Dan Neely, VP of KarMar, represented the seller. KarMar also sold the former Ward Mfg. Co. building and five surrounding acres here for $850,000.

"The investment market for commercial real estate in Delaware and Chester counties has been very strong," Marshall Soss, KarMar's president, tells GlobeSt.com. "Historically low interest rates and an improving economy have driven the demand."

Users as well as investors are buyers, he says. Priscilla Properties, which provides art and music therapy, acquired a single-story building in West Chester in Chester County for $135 per sf in a transaction brokered by Donald Grimes Jr. of KarMar.