This marks Guggenheim's first, but not its last acquisition inthe Lehigh Valley, according to Peter Weisman, a principal of NetLease Advisors LLC, a Guggenheim operating partner. He representedGuggenheim in the transaction and tells GlobeSt.com, "We're veryimpressed with the quality of the buildings, the location and thetenants. Absolutely, we're looking for more acquisitions here."

The sale included the assumption of existing above-market debtat a reported 7.3% cap rate, according to Gerald Moore, principaland managing director of financial services for the GaribaldiGroup/Corfac International. He and Gerald Bower, vice president ofGaribaldi's financial services arm based in Chatham, NJ, andMichael Bartolacci, senior vice president, who heads the company'sBethlehem office, represented the seller, locally based ArcadiaWest Associates, in the transaction.

Moore says the acquisition "represents continued andstrengthening demand for core grade industrial real estate here.We're really bullish on this market and expect an increase in assetsales here." He declined to disclose the amount of debt the buyerassumed.