Emigsville warehouse sells for nearly $23 million
A Manchester Township warehouse was one of 209 industrial assets sold to investment groups by a Plymouth Meeting-based company as part of $3.15 billion in deals.
The 340,000-square-foot warehouse, at 340 Emig Road in Emigsville, was officially sold on Dec. 29 for $22.95 million, according to the York County land record's office. The property is fully leased to Graham Packaging Co. and Starbucks.
Henley Holding Company, a wholly-owned subsidiary of the Abu Dhabi Investment Authority and Public Sector Pension Investment Board, one of the largest Canadian pension investment managers, acquired the 58 million square foot portfolio of core industrial properties from industrial property specialist Exeter Property Group, according to an Exeter press release.
Exeter invested in the joint venture and will continue managing the purchased properties.
“We are very pleased to have concluded the sale of this exceptional portfolio of industrial properties on behalf of our investors," Exeter CEO Ward Fitzgerald said in the release. "We are thrilled to work with our new partners in the continued successful management of these properties as well as in other opportunities in the United States and abroad."
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