Devli acquires 460,000 s/f PA industrial property

by

Devli
Real Estate has acquired a 461,433 s/f, 38-acre industrial property in Bedford,
PA.

Located at 550 Sunnyside Road, the property
is fully leased to a trio of investment grade tenants and includes expansion
capabilities. The property benefits from easy access to major highways,
between I-70/I-76 and Route 30 and serves the entire East Coast region.

The
property features units ranging in sizes from 100,000-200,000 s/f with 21 ft.
ceilings, 32 dock positions and ample parking.

“We’re
confident in Pennsylvania’s industrial market as we believe it will continue to
see strong rent growth over the short and long term,” said Mark Devli, CIO of Devli
Real Easte.

“Supply
constraints in existing industrial real estate along with rising construction
costs for new product will continue to drive rental rates upwards across the
board.”

COO
Christopher Devli added, “550 Sunnyside is a high quality, well-maintained
complex with expansion capabilities. We continue to expand our footprint of
highly-functional, well-located industrial properties in the Northeast. Our
team is pleased with the acquisition and the addition of this property to our
growing portfolio.”

Gerry Blinebury of Cushman &
Wakefield represented the buyer and the seller in the
transaction.

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