(To read more on the industrial market, click here.)
UPPER HANOVER, PA- RAF Pennsburg LP has acquired a 293,140-sfflex building, located on 30 acres at 2452 Quakertown Rd. fromHershey Co. The Hershey-based food conglomerate is vacating thebuilding to consolidate food operations at other area plants. JoeMcDermott, SVP in the Wayne office of CB Richard Ellis, says theprice was $5.7 million, or about $19.44 per sf.
McDermott represented Hershey. The Philadelphia-based Binswangerrepresented the buyer, which is an investment firm that acquiresand operates niche leasing, consumer and building productsbusinesses. Its Campania affiliate, which makes and distributeshigh-end garden accessories, such as birdbaths, fountains andbenches, will relocate to the former Hershey building.
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