Justin Bell and His Team Represented the Seller in the Disposition of the County Line Commerce Center, Warminster.
Justine Bell, Newmark, and his team; Mitch Russell, Michael Margolis, David Dolan, Ryan Guittare and Angelo Brutico represented the seller, Balashine Properties. The buyer was Velocity Venture Partners Bala Cynwyd, PA. The 450,000 square foot industrial/office campus located at 101-125 County Line Road, Warminster Township was previously the Fischer & Porter manufacturing complex. In the early 2000 the site was converted to office space.
The County Line Commerce Center was purchased for $27.75 million. Velocity Venture Partners will convert the office space to industrial or flex space spending another $10.4 million renovating the space.
There is more of a demand for the industrial/flex spaces since Covid-19 has changed the landscape of office tenancy and has increased the need for manufacturing and assembling spaces. Since Covid-19 there has been an overall demand for domestic manufacturing buildings and especially for Bucks County where manufacturing space was already limited. Velocity will market to manufacturing, light assembly, warehousing, distribution, and services-based businesses.
Justin Bell, Senior Managing Director, NEWMARK, Licensed in Pennsylvania as Newmark Real Estate,
t 610-755-6979, m 215-901-0233, justin.bell@nmrk.com, https://www.nmrk.com/offices/king-of-prussia
