News
BONDING DEALS
November 23, 2011
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| Beacon Commercial Real Estate's Taylor Young may mostly play in the office world, but he's been scoring runs in industrial lately. We spoke with Taylor who tells us he just sold three industrial buildings in and around Philadelphia metro. The first two, purchased by the Bond Family Partnership, includes two Lancaster County industrial facilities (one is 102 S Heintzelman St above), totalling 105k SF. Taylor says the facilities are leased long-term to polymer manufacturer Fenner Drives. “The Bond Family HQ is pretty much adjacent to these buildings,” he says. “It was a strategic play. We really had one buyer and that's who we hitched our wagon to.” |
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| Taylor, along with Beacon Commercial's John Greenwald, also sold 1340 Enterprise Dr (above), a 76k SF industrial facility in West Chester to Acero Precision from B A Partners for $3.7M. Acero, which makes products for the motorsport and medical industries, willrelocate its HQ from Newton Square to the new facility once renovations are complete. Overall, Taylor says he's not seeing value-add CRE trading. “Anything that's got long-term cash flow to five plus years, and has cash coming from a credit worthy tenant” is selling, he says. |
