In two separate transactions, the firm acquired six industrial buildings from two distressed sellers at attractive prices.
100 Cascade Drive is a 165,715 SF warehouse located within the highly-valued Lehigh Valley International Park II in Allentown, Lehigh County, PA. Since acquisition in July 2011, significant exterior and interior renovations were completed and occupancy has increased from 4% to 96%.
202-212 Cascade Drive is a five-building, 219,875 SF, warehouse/distribution complex adjacent to 100 Cascade and also across from the Lehigh Airport. Similarly, 77% occupied complex is in the process of renovation and new tenancy will increase occupancy to 100%.