In a sale-leaseback, New York Life has purchased an 812,245 sq. ft. warehouse in Mechanicsburg, Pa., for $36 million. London-based Reckitt Benckiser, a logistics firm, was the seller and has signed a 10-year lease for the facility. The Philadelphia office of New York-based Cushman & Wakefield represented New York Life in the transaction, while New York-based GZA Williams represented Reckitt Benckiser.
The warehouse, which sits on a 44.3-acre plot of land near the Pennsylvania Turnpike, is located in the Upper Allen Business Park. The facility features 28 ft. clear ceiling heights and an early suppression fast response (ESFR) sprinkler system.