400 Crossings Drive
Mike Borski and Pat Gilmore of The Flynn Company represented both the buyer 400 Crossings, LP and the Seller Little Britain Holdings in the sale of 400 Crossings Drive. The settlement took place on August 7th, 2013. Purchase price $10,000,000.00.
The end user is Okna Windows and Doors who will occupy 156,000 sq.ft. for their manufacturing operation.
Crownwood Industrial Estates leases 50,000 SF to Jersey Precast Corporation
Jersey Precast Corporation, a fabricator of customized complex and heavy steel structures for building, marine, and transportation construction projects, has signed a long term lease for 50,000 square feet of crane covered fabricating space at Crownwood Industrial Estates in Bristol Township, PA. The former Corell Steel facility has been redeveloped into a multi-tenant industrial center by STD Associates, L.P. Realty Source, Inc. is the property manager and represented the owner. Jim Gorecki of Fidelity Commercial Real Estate Alliance represented Jersey Precast Corp.
According to Michael Dvorak, president of Realty Source, "It was truly a collaborative effort among all the parties to make this happen. An existing 50,000 sq. ft. tenant with large outside storage requirements had to be relocated within the complex and both tenant spaces required improvements. Bob White and Jeff Darwak of the Redevelopment Authority of the County of Bucks were very helpful in bringing this out of state company to Bristol Township and it took several months to put it all together."
Jeff Darwak stated "We are very pleased that Jersey Precast selected Bucks County to locate its steel fabricating division which will bring 15 skilled manufacturing and 4 technical jobs to the area in addition to 10 new employment positions. This is yet another success story for the Bucks County Enterprise Zone, and we are proud to have been a partner with Crownwood Industrial Estates in attracting the company to Bucks County."
In other property news, Benningham Steel has renewed their lease for over 26,500 sq. ft. of crane covered manufacturing space for their steel slitting operation. Benningham Steel has been a tenant at Crownwood Industrial Estates since 1995.
Crownwood Industrial Estates contains four buildings totaling 216,000 sq. ft. of industrial and office space on 25 acres directly next to the PA-NJ Turnpike bridge.
Realty Source, Inc. specializes in the development, management, and brokerage of industrial and commercial properties and prides itself on personal service, integrity, and attention to detail. Realty Source also benefits from a long standing positive relationship with the commercial and industrial brokerage community.
Realty Source 1027 Conshohocken Road, P.O. Box 580, Conshohocken, PA 19428,Tel. 610-825-7700, email: info@realtysourceinc.com
Flowers Foods is expanding into the North East
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Flowers Foods will be leasing 9,500 SF standalone facility at 200 Howell Street, Bristol PA. Flowers Foods, a distributor of bread products, was represented by Nick Adams of Jackson Cross Partners, the Landlord, 200 Howell Street Bristol PA, was represented by Adam Lashner of NAI Mertz. The lease is for three (3) years beginning September 1.
Flowers Foods based out of Thomasville GA is expanding into the North East with distribution centers in PA, NJ and DE. In 2011, Flower Foods purchased Tasty Baking Company. In addition to their new Bristol location they also have distribution out of King of Prussia and Allentown. Each location is serviced by 10-15 bread delivery trucks.