On behalf of DCT Industrial (NYSE: DCT), JLL has closed the sale of 270 Silver Spring Road in Mechanicsburg, Pennsylvania to Cabot Properties. The property, totaling 104,000 square feet, is located in the 27 million square foot Central Philadelphia industrial market, one of the top performing in the United States.
Senior Vice President for JLL Philadelphia, John Plower, told the Central Penn Business Journal, “The thesis behind the acquisition from the buyer is that those spaces, as more big (industrial sites) get built, you have the ability to push rent in smaller spaces.”
The property is a fully leased, multi-tenant industrial building situated in an infill location in the Mechanicsburg submarket, and features T-5 lights, Early Suppression Fast Response (ESFR) Fire Sprinkler System, 40’ x 40’ column spacing, 200’ building depth and twenty-five loading doors (1 door per 4,160 square feet). Central Pennsylvania remains an attractive industrial market for investors due to its superior regional connectivity within a one-day drive of New York, Philadelphia, Baltimore, Washington D.C. and Pittsburgh.