X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW GARDEN TWP., PA- A limited partnership based in Delaware has acquired an 11.4-acre parcel at 1250 Baltimore Pike from locally based Yoder Brothers Inc. The sale price is undisclosed, but, on condition of anonymity, an area broker tells GlobeSt.com the parcel commanded just under $1.2 million or about $100,875 an acre.

Marshall J. Soss, president, and Justin M. Soss, VP of Chadds Ford-based KarMar Realty Group, represented Yoder. Eric Stretch of the area office of Grubb & Ellis represented the buyer.

“The property contained more than 200,000 sf of greenhouses,” Marshall Soss tells GlobeSt.com. The buyer plans to develop the site into New Garden Business Park, a commercial and flex development with properties available for sale, lease and build-to-suit, he adds.

The new owner has appointed KarMar exclusive agent for marketing the new venture. “The intention is to obtain approvals from the township for a business park containing nine flex buildings with an aggregate of more than 100,000 sf,” Soss says, “plus some commercial outparcels for lease or sale.”

In a separate, unrelated transaction here, KarMar also negotiated the sale of a 4,000-sf building on approximately a half-acre at 935 Cypress St. and Baltimore Pike for about $400,000. Dan Neely of KarMar was the listing and selling broker. The seller is Bradley Partnership and the buyer is WRWM Partnership LLC, which plans an auto dealership on the parcel with additional retail or office space for lease.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.