Denholz Properties, a commercial real estate investment and development company, announced Thursday that it has acquired a portfolio of 18 buildings and 723,734 square feet across the Lehigh Valley.
New Jersey-based Denholz said the deal is the latest acquisition in a joint venture that plans to acquire and develop multi-tenant industrial properties across the United States.
“The Lehigh Valley’s favorable demographics, easy access to major population centers in the eastern U.S., and limited new construction pipelines make this an attractive option for the Lehigh Valley,” said Mark Mahasky, Director of Acquisitions and Capital Transactions at Denholz. “The Lehigh Valley has become a very desirable market for us.” “We look forward to executing our proven asset management strategy across this portfolio and creating the best possible experience for our tenants in this area.”
The selling price was not known.
We purchased the following properties.
- Hanover Township, Northampton County: 1550 Valley Center Parkway, 1560 Valley Center Parkway, 57 S. Commerce Way, 89 S. Commerce Way, 83 S. Commerce Way, 85 S. Commerce Way, and 87 S. Commerce Way.
- Hanover Township, Lehigh County: 2202 Hangar Place, 2201 Hangar Place, 764 Roble Road, 754 Roble Road, 974 Marcon Blvd., 964 Marcon Blvd., 954 Marcon Blvd. and 944 Marcon Blvd.
- Upper Macungie Township: 7562 Penn Drive, 7355 William Ave., 7277 William Ave.
CBRE’s Brad Rappel and Tristan Cade represented Bethlehem-based seller PenCap Properties in the transaction.