West Manchester industrial property sells for $16.5 million
The 312,769-square-foot industrial property which currently houses Gov. Tom Wolf's former company was sold was $16.5 million, according to a press release form the company that brokered the deal.
On behalf of Endurance Real Estate Group and Thackeray Partners, JLL's Philadelphia Capital Markets Group closed the sale of the property at 515 Zarfoss Drive in West Manchester Township to Industrial Property Trust Inc.
John Plower, senior vice president at Capital Markets, said the property was only on the market for about a month before it was sold. The buyer, which was formerly Industrial Income Trust, has made several investments in the York market, Plower said.
The seller made multiple improvements to the property and found a lessor in Wolf Organization, which still has more than five years remaining on its lease, he said.
Industrial Property is not planning any new development on the property and will just enjoy the guaranteed stream of income that comes with the Wolf lease, Plower said.
Representatives from Industrial Property did not return a request for comment on the purchase.
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