QUAKERTOWN, PA-Two area industrial buildings trade hands for nearly $64 per sf in separate, unrelated transactions. Monmouth Capital Corp. pays $2.4 million for a 37,660-sf building here. PJM Enterprises pays nearly $1.2 million for the 18,000-sf building at 1019 Fourth Ave. in Lester, PA, about 50 miles south of here.

The Quakertown property is net-leased to MagiKitch’n Inc. through March 2015, and is currently subleased to, and fully occupied by Rotoflex Technology Inc. The seller is Vermont-based Pizzagalli Properties LLC.

Freehold, NJ-based Monmouth Capital is a member of a family of REITs. They include United Mobile Homes Inc., which invests in manufactured home communities, and Monmouth Real Estate Investment Corp., which invests in net-leased properties that have investment-grade tenants on long-term leases.

PJM is a Lester-based investor that plans to use the Fourth Ave. property for warehousing and distribution activities. The building is located on approximately two acres near the Philadelphia airport. It has an adjacent paved parking lot suitable for either expansion of the existing building or for outside storage. Steve Italiano, SVP in the Wayne, PA office of CB Richard Ellis, represented the seller, Gearhardt Holdings.

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