Western Valley Forge Business Center and IIT Valley Forge Business Center sold a six-building light industrial portfolio in West Norriton. The sale went to affiliates of Endurance Real Estate Group and Greystar-Thackeray for $31.75 million, writes Paul Schwedelson for the Philadelphia Business Journal.

The six structures include three buildings located at 2495 Boulevard of the Generals, totaling 65,723 square feet. A 40,000-square-foot building at 2564 Boulevard of the Generals and a 62,800-square-foot building at 2562 Boulevard of the Generals are in includede as well. Rounding out the portfolio is a 31,836-square-foot building at 603 General Washington Avenue.

The properties have clear heights between 18 and 20 feet, a total of 530 parking spaces, and 46 loading positions.

“This acquisition continues our long-held strategy of targeting well-located, highly functional light industrial properties with high barriers to entry with limited competitive supply,” said Endurance Senior Vice President Jared Newman.

The tenants at the six buildings include multinational corporations and regional service-oriented companies, among others.

Endurance is looking to make 19,800 square feet of space available at 2562 Boulevard of the Generals.

Current rents are “meaningfully below market, offering substantial value-add potential through near-term lease rollover,” stated the company.

Read more about the West Norriton industrial portfolio sale in the Philadelphia Business Journal.