Roddy Inc., the Bensalem-based industrial and commercial real estate brokerage firm, announced that it brokered the sale of the 233,485 sq. ft. dual-tenant facility located on 13.75 acres at 20 Steel Rd South, New Ford Mill Rd Industrial Park, Morrisville, Bucks County, PA to 20 Steel Road, LLC, an entity related to PennFab, Inc., on behalf of Manhasset Bay Associates.
Frank Roddy, President of Roddy Inc., who handled the sale advised that the premier crane and rail served facility was sold to 20 Steel Road, LLC for $10,600,000. Roddy further advised that the adjacent 14.63 acre land parcel is being offered for sale.
The facility is presently divided into two (2) units—one of approx. 118,000 sq. ft., which is occupied by Ryerson, Inc., and one of approx. 115,000 sq. ft., which is occupied by PennFab, Inc. The fully heated facility offers eleven (11) remote operated cranes ranging in capacity from 10-30 tons, three (3) covered tailgate loading docks, ten (10) drive-in doors providing three (3) drive-thru bays front to rear, 46’0” sloping to 39’0” clear height under steel purlins, a rail spur running 360’ through the building from front to rear serviced by CSX and Norfolk Southern, 34.5 KV/2500 KVA primary electric service and approx. 14,835 sq. ft. of offices. The property is located within 2 miles of the deep water port facility located within Keystone Industrial Port Complex.
Strategically situated in New Ford Mill Rd Industrial Park, the property provides access to Route 13, Route 1, I-95, I-295, the PA Turnpike (I-276) and the NJ Turnpike (I-95) as well as bridges to New Jersey.
PennFab, Inc.—headquartered in Bensalem, PA—is a 31 year old Veteran owned company. They are an AISC and AWS certified fabricator and a major supplier to the Railroad and Transportation Industries providing signal bridges, catenary structures, foundations, track material, signal supports, walkways, cable trays, wire ways, handrails, anti-fall equipment, safety railing, ballast retainers, bridge beams, tie bars, bridge bearings, girders and more. Other industries include, material handling, highway and bridges, heat treating, and furnaces, part washers, pollution control, flight and training simulators, water treatment, heat recovery and simulation chambers, stairs, mezzanines, equipment skids and numerous OEM organizations.
Ryerson Inc. is a leading distributor and processor of metals in North America. Headquartered in Chicago, Ryerson offers an unparalleled range of products, leading processing and fabricating capabilities, a broad geographic reach and an established commitment to superior service.
Manhasset Bay Associates is a private equity property group headquartered in New York.