Roddy Inc. Represents Seller, A Subsidiary of Impaxx, Inc. in Sale
Roddy Inc. represented Gilbreth Packaging Inc. a wholly owned subsidiary of Impaxx, Inc. in the sale of a 102,063 square foot building on approximately 7.63 acres located at 3001 State Road, Bristol, Bucks County, PA to Keystone Industrial Properties, Inc. for $2,300,000.00. Roddy Inc. simultaneously negotiated a leaseback of the property to Gilbreth Packaging., a wholly owned subsidiary of Impaxx, Inc. for a period of seven (7) years at an aggregate rental in excess of $2,500,000.00. Michael Schurr of Roddy Inc. commented that this allowed Keystone to add to their existing portfolio of modern industrial facilities in Lower Bucks County, which now total close to 500,000 square feet. Other sale/leaseback transactions completed by Roddy included the sale of the REPCO facility located at 510 Station Avenue in Bensalem, PA for $1.900,000.00 and an Aggregate rental of $1,300,000.00, as well as the Schutte & Koerting facility located at 2215 State Road, also in Bensalem Township, Bucks County for $3,100,000.00 and an aggregate rental of over $2,000,000.00, bringing the total of buildings sold to 338,220 square feet.
Headquartered in Bensalem Township, Bucks County, Pennsylvania, Roddy Inc. is a marketer, manager and developer of industrial and commercial real estate throughout eastern Pennsylvania and southern New Jersey. Their clients include regional, national and international companies and financial institutions. For more information about the company, visit the corporate website http://www.roddyinc.com
For further details, contact Frank Roddy at (215) 245-2600 or FAX (215) 245-2670.