10/22/2007

CB Richard Ellis represents Whitesell in $17 million industrial sale

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540 Glen Court

APCA Property Fund I has sold a three-building industrial portfolio in Moorestown, N.J., to APCA Property Fund I for $17 million to Whitesell Construction Co.

Steve Allison, managing director and CIO of Boston-based Paradigm Capital Advisors, represented APCA, which is sponsored by Paradigm Capital and Stamford, Conn.-based The Ashforth Co. CB Richard Ellis represented the seller in the transaction.

The portfolio consists of 540, 550 and 600 Glen Court.

The 540 location contains 219,304 square feet. It was built in 1974 on 12 acres and is 100 percent occupied by American Shower & Bath.

The 550 location contains 102,232 square feet and was built in 1975 on 7.5 acres. It is fully occupied by SupplyOne Inc.

The 600 Glen Court property was built in 1978 on 10 acres. It contains 85,337 square feet and is 60 percent occupied by Central Wholesalers, a plumbing, hardware and electrical supply company.

Moorestown is located roughly 15 miles east of Philadelphia.

Address: 540,550-600 Glen Court, Moorestown, N.J.

Size: 407,000 square feet

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Filed Under: Industrial

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