Sept. 12, 2020 -- Chicago, IL – Avison Young has negotiated the sale of a 108,255-square-foot (sf) food-manufacturing and distribution facility at 200 Rock Run Road in Fairless Hills, PA, located in the Philadelphia industrial market.
The building has been fully occupied by CSC Sugar since 2012.
Avison Young Principals Erik Foster, Mike Wilson, and Adam Gillespie who are with the firm’s national Industrial Capital Markets Group, worked with Avison Young local brokerage Principals Paul French and Brian Hilger based in the firm’s Philadelphia office, to represent the seller, a partnership that comprises Crestpoint Real Estate Investments, H&R REIT and PSP Capital Partners. The buyer was a private investor.
The tenant is one of the largest importers and exporters of refined sugar in North America, supplying goods to many global food industry brands.
“This asset drew considerable attention from investors, as it is a mission-critical facility for the tenant, who has invested $10 million into specialized equipment and has long-term plans to remain in the facility,” comments Foster. “Investors continue to look to the industrial sector for these types of secure, long-term investments.”
The facility was constructed in 1979 and renovated in 2016. It supports CSC Sugar’s Northeast distribution network. The tenant has customized the facility to meet its growth needs, including processing sugar imported from Mexico into liquid sucralose products for global food companies.
The property is near the Keystone Industrial Port Complex (KIPC), a 2500-acre intermodal heavy-industrial complex located on the northern end of the Delaware River’s shipping channel. Also located within this park is the Kinder Morgan Port Fairless Hills terminal, on which CSC Sugar relies for transporting its products and supplies.
In addition to port access, the building provides proximity to major interstates such as I-95, I-80, I-78, and the New Jersey and Philadelphia turnpikes. It is also located near the CSX and Norfolk Southern rail lines and the Philadelphia International Airport, which houses the second-largest UPS hub in the country.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.