Exeter Property Group has had a busy few weeks with real estate transactions in Chester County, writes Natalie Kostelni for the Philadelphia Business Journal.
The real estate investment management firm, one of the largest in the world, purchased a building on 13.4 acres at 931 Matlack Street in West Chester for $20.2 million. Anro Inc. has fully leased the 148,000-square-foot building.
First Eastern Development Company sold the building. It acquired the site four years ago in a sale-leaseback transaction for $16.2 million.
“I love the building, and I love the tenant,” said John Newton of First Eastern. “We have so much demand from companies who want to buy. We have sold three industrial properties this year that we hadn’t intended to sell. If you have any inclination to sell, this is a good time to sell.”
Conshohocken-based Exeter also acquired a building on eight acres in Malvern from an entity by the name of Top Spin LLC for $10.34 million. ABC Supply leases the 91,579-square-foot building at 25 Spring Mill Drive.
Read more about these real estate transactions with Exeter Property Group in the Philadelphia Business Journal.