NEW YORK CITY—A 15-building, 2.5-million-sq.-ft. portfolio of warehouse and industrial space situated in New York, Ohio and Pennsylvania is on the market for sale through Eastern Consolidated, priced at $97 million.
Eastern Consolidated chairman Peter Hauspurg with executive managing director R. Stuart Gross are spearheading the marketing initiative for the sale of the portfolio on behalf of the seller, a private family of investors.
The portfolio represents an opportunity to invest in high barrier to entry markets. Ownership has managed and upgraded the properties with over $5.6 million spent in capital improvements since 2007. The buildings all offer direct access to major interstate highways.
The buildings are located in Chambersburg and Middletown, Pa.; Liverpool, Guilderland, and Rochester, N.Y.; and Marysville and Zanesville, Ohio. The 621,000-sq.-ft. warehouse for office supplier Staples in Chambersburg features state-of-the art robotics distribution, and the 104,000-sq.-ft. warehouse in Guilderland accommodates McLane Company, a supply chain organization. Sumitomo Electric is a tenant at the Marysville facility in addition to various of the Rochester locations.