NAI Mertz Completes Sale of 19.55-Acre Land Parcel in Bucks County, 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, is pleased to announce the sale of 19.55 acres situated within the Keystone Industrial Port Complex in Morrisville, PA. NAI Mertz represented Hiossen in the sale of this parcel and was the sole brokerage firm involved in the transaction to J.G. Petrucci Company.
This parcel was formerly home to US Steel’s Infirmary when NAI Mertz sold the infirmary on 35 acres to Hiossen, formerly Osstem. The parcel was recently subdivided into 19.55 acres for J.G. Petrucci and 15 acres for Hiossen’s continued research, design and light manufacture of dental implants.
Jeffrey Licht, SIOR, Senior Vice President, managed the NAI Mertz team of Adam Lashner, SIOR, Vice President, and Jared Licht, Sales Associate, that marketed the parcel for sale. “We had discussed development of the site with umpteen developers and a myriad of users until J.G. Petrucci stepped up. And the timing couldn’t be more perfect for Petrucci to build a 225,000-square-foot warehouse/distribution center,” said Licht Sr.
J.G. Petrucci’s initial plans reflect a 225,000-square-foot warehouse/distribution center featuring 36’ clear ceiling heights, 48 tailgate loading doors, on-site trailer parking, ESFR sprinkler system, LED lighting and offices to be built per tenant’s specifications.
Per Greg Rogerson, Principal at J.G. Petrucci, “Jeffrey, Jared and the team at NAI Mertz are always a pleasure to work with. Their creative and proactive approach created a unique development opportunity for us to build a state-of-the-art industrial facility, while delivering an effective real-estate investment opportunity for a multitude of industrial users in a prime location.”
For additional information, please contact jeff Licht @ jeff.licht@naimertz.com
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 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.
