Cushman & Wakefield announced today that the real estate services firm arranged the sale of a 483,770-square-foot industrial property located at 405 Busser Road. The final sale price was $54,400,000.
Cushman & Wakefield’s Gerry Blinebury, Gary Gabriel, Kyle Schmidt and Brendan McGeary represented the seller, Core5 Industrial Partners, in the transaction. The property was acquired by Cabot Properties.
“405 Busser Road is a newly-built, strategically located property within a few miles to major highways providing an easy commute to major cities,” said Blinebury. “The property offered investors the rare opportunity to acquire an institutional quality asset with a long-term tenant.”
The property is located on 37.5 acres of land and features 36-foot ceiling heights, 78 loading positions, 99 trailer parking positions, two drive-in doors and 185-foot truck court depth. The property is fully leased to Hill’s Pet Nutrition, a subsidiary of Colgate-Palmolive.
405 Busser Road is located along Interstate 83, providing access to Interstates 76 and 81. The asset is within a three-hour drive of Baltimore, New York City, Philadelphia, Pittsburgh and Washington, D.C.
