On behalf of CSG Partners and The Davis Companies, we are pleased to announce that we have closed the investment sale of Chester Creek Business Center located at 100, 120 & 130 Concord Road in Aston, PA to a client of Bentall Kennedy. The three property portfolio totals 179,182 square feet and is currently 100% leased to six tenants.
Built in 2009, the properties are located within the highly sought after I-95 Industrial Corridor in Delaware County, Pennsylvania.
“Chester Creek Business Center provided Bentall Kennedy the opportunity to acquire a best-in-class portfolio of high-quality industrial and flex properties, with great in-place cash flow,” said John Plower, lead broker and senior vice president, JLL. “The Portfolio offered a diversified, stable rent roll within an in-fill location along the I-95 Corridor where newly constructed product is difficult to find given the mature nature of the submarket. With significant weighted average remaining lease term on the portfolio, the buyer was able to take advantage of the attractive debt markets and achieve attractive returns for core real estate, which is difficult to find in today’s market.”
Additional investment highlights include a modern building design with an attractive façade, ample car and trailer parking, full building circulation, and optimal building depths at 120’ and 150’, as well as well-maintained landscaping packages.