The seller, Delana Blore of Dance Elite, a well-known area danceinstructor, acquired the building for $1.4 million in December2003. She used the space for ballet performances as well as danceclasses before deciding to retire, says Russ Menk, a Grubb &Ellis vice president with offices in King of Prussia and Marlton,NJ.

Menk represented Dance Elite in acquiring the property and wasalso the sole broker in the Sequoia transaction. "It is a formerindustrial building that dates back to the 1950s," he tellsGlobeSt.com, "but is best known as the once-popular WarringtonSkating Rink, which operated for many years." Dance Elite changedits name to the Performance Rink.

The building is located on three acres and has a second-story,two-bedroom apartment and a separate 3,049-sf garage. Menk saysSequoia is adding a new façade and between 10,000 sf and 15,000 sfof additional office and warehouse space. "The property has highvisibility and is well located. There's a lot of activity in thisarea of Bucks County," he says, pointing to the 140-acre ValleySquare mixed-use development underway along with other nearbyresidential and office construction.