Cushman & Wakefield Arranges Industrial User Sale in Bristol, PA
29 Jul, 2011, Briston, Pa.
National Honey Almond, Inc., a wholesale distributor of fine cigars and a long-term client of commercial real estate services firm Cushman & Wakefield, Inc., has acquired a new headquarters property at 247 Rittenhouse Circle in Bristol. Gerry Blinebury, Brian Hilger and Leah Balerno, industrial specialists in Cushman & Wakefield's Philadelphia office, orchestrated the $1.7 million transaction.
National Honey Almond purchased the 30,000-square-foot facility, which sits on 2.5 acres, from an institutional owner. The firm will relocate its administrative office and warehouse locally from a leased space later this year. Mike Borski of The Flynn Company served as broker for the seller.
"National Honey Almond has expanded significantly since we arranged its first, 4,500-square-foot lease eight years ago, and we have continued to assist the company with its real estate needs as its operation has evolved," Blinebury noted. "NHA, Inc. has expanded its lease presence in Bristol, PA several times in the recent past, and it was now the right time for ownership to purchase a building capable of accommodating current and future needs."
Blinebury added that the site search for the new location exclusively targeted lower Bucks County. "Of the selection of available properties, 247 Rittenhouse Circle outperformed the others in terms of both quality and pricing," he said. "It is a vacant building, which expedites occupancy. Additionally, its location in the Keystone Industrial Park, directly off I-95, allows easy access to National Honey Almond's entire East Coast customer base."
Cushman & Wakefield, Inc.'s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2010, this group completed more than 4,800 industrial real estate transactions - totaling 141.6 million square feet in leases and 52.9 million square feet in sales - with an aggregate value of nearly $5 billion. This represented a year-over-year revenue increase of 26.7 percent.