Lower Providence industrial space sells for $32 million

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A 249,400-square-foot industrial building at the Park Pointe at Lower Providence Corporate Center in Montgomery County has been sold for $32 million.
Haverford-based real estate investment firm Sandkris Properties Inc. purchased the building at 2621 Van Buren Ave., according to a report by Jacob Adelman of the Inquirer. It was acquired from an ownership group involving Foster City, Calif.-based Bailard Inc., Robert Beach, president of brokerage Procision Commercial Realty in Washington Township, N.J. said in an emailed news release.
The building is currently 93 percent occupied. Its tenants include Comcast Corp., PJM Interconnection LLC, and Paychex Inc., according to the release.
A key to its decision to acquire the property was its location near King of Prussia.
Read the complete story in the Philadelphia Inquirer click here. 
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