Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Keurig Dr. Pepper Distribution Center, a 218,000-square foot industrial property located in Aspers, Pennsylvania, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $11,250,000. The property is located at 2105 Carlisle Rd in Aspers, Pa.
“Our team has still been able to get transactions across the finish line even in a high interest rate environment. This continues to prove that there still is strong demand for net leased industrial properties,” said Craig Dunkle, senior vice president investments.
Craig Dunkle, Mher Vartanian, and Nicholas P. DiPrimio, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a personal trust. The buyer, a limited liability company, was secured and represented by Dunkle and Vartanian.
“We’d also like to thank both Jack Ford and Brain Underkofler from The Lightstone Group for their tireless efforts in consummating this transaction. It was a true team effort working with both the buyers and sellers to bring this purchase to a successful close of escrow,” added Dunkle.
“The Adams County economy relies upon the manufacturing and food services industries. Its centralized location provides easy access to several metros and makes it an ideal location for warehousing,” said Vartanian, vice president investments. “Keurig Dr. Pepper has deep ties to the Aspers area, having been a tenant at the property for over 39 years and operating an over 600,000-square-foot bottling plant less than a mile away,” added DiPrimio, associate.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.