RESOURCES & NEWS
423,000-Square-Foot Industrial Property Sells for $47.525 Million
Newmark announces the $47.525 million sale of 101 Gordon Drive in Exton, Pennsylvania. The Class A, infill industrial transaction comprises an existing 240,000-square-foot headquarters and manufacturing facility and a 183,217-square-foot distribution/warehouse facility.
Ken Hedrick and Jerry Hopkins of Newmark’s Net Lease Capital Markets practice group, in cooperation with Jeff Mack and Ryan Guittare of the Philadelphia team, represented the joint venture of Goodman Properties and E. Kahn Development in the sale to New York-based Angelo Gordon.
Totaling 423,217 square feet on 36.6 acres, 101 Gordon Drive is 100 percent leased to United Safety and Survivability Company (USSC) serving as its headquarters and a mission critical distribution and manufacturing facility. Incoming investors sought the opportunity to own a vital cash flowing property occupied by a deeply rooted, global tenant.
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