A partnership between Conshohocken-based Fameco Real Estate LP and Vision Group Ventures acquired a 32,000-sf, two-story class A office property in Plymouth Meeting for $5.8 million, or just over $181 per sf. The partners intend to use it for their respective corporate offices. Jerry Ward of locally based Colliers Lanard & Axilbund represented both the seller, a private investor identified by the property's address at 633 Germantown Pike, and the buyer.
Keystone Nazareth Bank & Trust bought a 30,000-sf class A building at 1620 Pond Rd. in Allentown for $4.5 million, or $150 per sf. The seller, Pond Professional Center, is a partnership of Allentown businessmen. Summit Management and Realty Co. represented both sides.
Wal Pat LLC and National Leasing paid $1.5 million, or $60 per sf, for a 25,000-sf, single-story industrial building at 900 Carpenters Crossing in Folcroft. Steve Italiano, SVP of the CB Richard Ellis industrial/office services group in Wayne, represented the seller, Henderson Columbia Corp., and was sole agent. He tells GlobeSt.com, "the buyer plans to use the property for an associated business enterprise and will begin its warehousing and distribution operations within 60 days."
In still another unrelated transaction, BG Wholesale Inc., an auto parts distributor, acquired a 64,108-sf warehouse at 2430 Blvd. of the Generals in Norristown for an undisclosed price. The seller is TopCon America. BG will relocate its headquarters from Valley Forge Business Center to the new location. Marc Trevisan, SVP, and Paul Touhey, senior associate with CBRE, handled the transaction.
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