Roddy Inc., the Bensalem-based industrial and commercial real estate brokerage firm, announced that it brokered the sale of the 84,953 square foot modern one (1) story masonry and steel multi-tenant building, situated on 4.15 acres located at 500 State Road, Bensalem Township, Bucks County, PA to 500 State LLC on behalf of State Road Associates, L.P.
Frank Roddy, President of Roddy Inc., who handled the sale advised that the fully leased, multi-tenant facility was sold to 500 State LLC for $4,700,000.
The building is presently divided into three (3) units— Unit A (approx. 24,233 sq. ft.), which is occupied by Easy Heat Wood Pellets, and Unit B (approx. 18,710 sq. ft.) and Unit C (approx. 42,010 sq. ft.), which are occupied by Betz Plumbing and Heating Supply. In addition, a portion of the site is also leased to Omnipoint for the location of a cell tower.
The modern one-story masonry and steel building is heated and sprinklered throughout and offers ceiling heights from 24’0” to 24’9” clear, twelve (12) tailgate docks, five (5) drive-in doors, 42’ x 30’ column spacing, approx. 8,600 sq. ft. of office space and parking for approx. sixty-two (62) automobiles.
Strategically situated between the Academy Road and Woodhaven Road Interchange of I-95, the property offers convenient access to the Pennsylvania Turnpike (Exit 351/Bensalem) as well as Route 1 and the Betsy Ross Bridge and Tacony–Palmyra Bridge to New Jersey. The property is just twenty (20) minutes from Metropolitan Philadelphia, thirty (30) minutes from Trenton, NJ and ninety (90) minutes from New York.
500 State LLC is a privately held real estate investment firm which has been involved in all facets of commercial real estate throughout North America for a combined 25+ years, with an emphasis on the industrial sector. The company is led by an experienced team who has acquired, developed and managed over 7.5 million square feet of property across the United States.