NAI Mertz ‘s Jeff Licht & Jared Licht Complete Partial Sale-Leaseback Transaction within 11-building Mixed-use Campus in Bensalem, PA
NAI Mertz, a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania, announced Jeff Licht, SIOR, Senior Vice President and Jared Licht, Sales Associate, completed the sale of 4636 Somerton Road, Bensalem, PA to J.G. Petrucci Company, Inc. Andrew Somple of NAI Hanson assisted the Lichts in this transaction.
The pair orchestrated the sale-lease back of 113,000 square feet within assorted buildings within the 300,000+ sf complex on 46 acres. The Seller, SUEZ Water Technologies, will leaseback 93,000-square-foot of industrial, office and lab space, and former GE Subsidiary, RLS USA Inc. will occupy 20,000 square feet of assorted space.
“Now is a great time for companies that own their buildings to consider a sale-leaseback transaction,” stated Licht Sr. “The unprecedented demand we’re seeing in the industrial sector provides companies the ability to liquidate these assets at a premium to raise capital for their operations. We are pleased to have assisted SUEZ with this opportunity and now excited to work with our long-time client, J.G. Petrucci, as they brainstorm additional on site development options.”
“We love the site as well as our two new quality tenants and the upside development potential here,” said Greg Rogerson, Principal at J.G. Petrucci. “It would be remiss of me if I didn’t thank the Licht boys for exposing us to this opportunity. Jeff and Jared are always fun, positive and creative to work with and we’re very happy that we got this deal done.”
The property, Suez Water Technologies & Solutions Campus, totals 46 acres improved with 11 mixed use buildings comprising over 332,400 square feet of space. It’s convenient Bucks County location, just 20 miles from Center City Philadelphia, PA and Trenton, NJ, offers convenience to I-95 and the Pennsylvania Turnpike.
About NAI Mertz
Founded in 1980, NAI Mertz is a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania. The company provides expert services in brokerage, leasing, sales, investments, property management, site selection and construction management in the industrial, office and retail sectors. NAI Mertz’s clients include Fortune 500 companies, financial institutions, private investors, large public corporations and small businesses. Its partnership with NAI Global, a top 5 commercial real estate brand, enables the firm to provide large-scale global real estate services. NAI Mertz has been recognized as an Office of the Year for NAI Global selected from a pool of 375 NAI offices. NAI Global comprises more than 6,000 commercial real estate professionals and manages over 1.15 billion square feet of space.
For more information on NAI Mertz, visit its web site at www.naimertz.com, or 800.520.7139.