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FOLCROFT, PA-Three buildings here sell in two unrelated transactions. Trinity Broadcasting Network acquired two buildings aggregating 24,000 sf for just shy of $1.2 million, while a private investment partnership purchased a 32,000-sf flex/industrial property with plans to divide it into office/industrial condo units.

Brian Hilger, Fran Mahoney and Peter Greenhalgh of the Philadelphia office of Cushman & Wakefield negotiated the Trinity deal. The properties are a 3,000-sf building at 960 Ashland Ave. sold by Richard Griest, and a 21,000-sf facility at 1810 Columbia Ave. that was sold by REI Consultants. The individual property prices are undisclosed, but the average price for the two structures is $49.38 per sf. The C&W team says Trinity will relocate from its current facilities in Manayunk and use the new properties as television studios.

Dayton Superior is the seller of the flex/industrial building at Three Horn Dr. in Folcroft West Business Park, which commanded $34.38 per sf. Representatives of the Philadelphia office of Marcus & Millichap represented Dayton. Steve Italiano, SVP of the CB Richard Ellis industrial group, based in Wayne, represented the buyer. Italiano says the new owner will invest “several hundred thousand dollars” in modernization and condo conversion, and the renovation “will take one to two months.” CBRE is assigned to market the office/industrial units for sale or lease.

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