IBS OFFICE PORTFOLIO - LoopNet · 2019. 3. 14. · IBS Office Portfolio consisting of four office...
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Colliers International Ten Penn Center 1801 Market Street, Suite 500 Philadelphia, PA 19103 www.colliers.com Eastern Alliance Insurance Company The Nielsen Corporation Community Action Partnership Commonwealth of PA Crayola Jeff Algatt Senior Vice President - Investment Services +1 267 252 0191 jeff[email protected] Fred Null Vice President - Special Projects +1 610 613 1843 [email protected] INVESTMENT SALE OPPORTUNITY IBS OFFICE PORTFOLIO Offering Summary D Credit Tenants D Portfolio 98% Occupancy D Four Properties in Lancaster & Northampton Counties, PA D 195,000 Square Feet D $2,000,000 NOI
Transcript of IBS OFFICE PORTFOLIO - LoopNet · 2019. 3. 14. · IBS Office Portfolio consisting of four office...
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Colliers InternationalTen Penn Center1801 Market Street, Suite 500Philadelphia, PA 19103www.colliers.com
Eastern Alliance Insurance Company
The Nielsen Corporation Community Action PartnershipCommonwealth of PA
Crayola
Jeff Algatt Senior Vice President - Investment Services+1 267 252 0191 [email protected]
Fred Null Vice President - Special Projects+1 610 613 1843 [email protected]
INVESTMENT SALE OPPORTUNITY
IBS OFFICE PORTFOLIOOffering Summary
D Credit Tenants
D Portfolio 98% Occupancy
D Four Properties in Lancaster & Northampton Counties, PA
D 195,000 Square Feet
D $2,000,000 NOI
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Colliers InternationalTen Penn Center1801 Market Street, Suite 500Philadelphia, PA 19103www.colliers.com
For more information, please contact the Listing Agents below:Jeff Algatt Senior Vice President - Investment Services+1 267 252 0191 [email protected]
Fred Null Vice President - Special Projects+1 610 613 1843 [email protected]
Offering SummaryColliers International, as exclusive agent of the Seller, is pleased to offer for sale to qualified investors the IBS Office Portfolio consisting of four office buildings aggregating 195,099 rentable square feet in central and eastern Pennsylvania.
#PROPERTY NAMEADDRESS RSF OCCUPANCY TENANCY EXPIRATION NOI
OFFERED PRICE
CAP RATE
PRICE/RSF
1Eastern Alliance25 Race Avenue,Lancaster
68,489 100% ST Long Term $897,688 $14,720,000 6.1% $215
2The Bare Building39 E. Chestnut Street, Lancaster
29,426 84% MT Various $475,748 $6,814,000 7.0% $232
3Columbia CAP Day Care815 Wright Street,Columbia
12,080 100% ST Medium Term $164,340 $1,806,000 9.1% $150
4Crayola2025 Edgewood Avenue, Easton
85,104 100% ST Long Term $495,416 $5,500,000 9.0% $65
195,099 98% $2,033,192 28,840,000 7.0% $148
The Owner prefers to sell the properties all together, but will consider offers on individual assets. None of the assets are encumbered with a mortgage and at Closing each will be delivered free and clear of debt.
Why buy? First, these properties offer immediate, attractive operating and after tax returns from long tenured tenants, including fully reimbursed management fees. Second, there is potential upside through future expansion and alternative use of the buildings where applicable. Finally, the variety of tenants, lease expirations, structures and locations provides capital protection through diversification.
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16948 feet
Stable Cash Flow
Significant Value Add Opportunities
Well-Maintained
Long Term Tenants with Quality TI
Diverse Users - Retail/Office/Special
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Investment Highlights
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