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PHILADELPHIA-Locally based-Binswanger/CBB has negotiated the sale of an 80,000-sf office/industrial building on seven acres at Townsend Road in Northeast Philadelphia on behalf of L&M Beverage Co. Frank J. Cullen, president of Philadelphia-based Realty Group East, handled the transaction for Binswanger.

The sale price was not disclosed.

Steamfitters Local Union No. 420 bought the property to house its administrative offices and hiring hall. It also plans to operate a full-scale apprenticeship school and training facility at the site.

Brokers tell GlobeSt.com that activity on the northeastern edge of Philadelphia, long stagnant, began picking up with last year’s completion of a 1-million-sf, build-to-suit TJ Maxx distribution center and Allstate Tire Recycling Inc.’s lease of 150,000 sf in the area at an estimated net rental rate of about $3.40 per sf.

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