Colliers announced the completed sale of the 94,280-square-foot net leased industrial facility at 2260 State Road in Bensalem. Carl Neilson and Andrew McGhee, of Colliers, both represented the seller and procured the buyer, Velocity Venture Partners. ATC 2260, LLC sold the property at an undisclosed price.
2260 State Road is a 20’ clear height industrial warehouse and light assembly property. The building has three docks and three drive-in doors, with ample room for expansion. The property is easily accessible from many major highways and sits right off of Interstate 95.
The site is occupied by ProCorr Display and Packaging, a manufacturer of corrugated boxes and other packaging materials. An 8,000-square-foot office unit will shortly be available for lease and can accommodate a single user or multiple.
“2260 State Road represents Velocity’s second acquisition in Bensalem Township and we are thrilled to add the site to our Bucks County portfolio. I am proud of our team’s ability to successfully navigate today’s choppy capital markets to get this one closed. We are very bullish on industrial real estate throughout the northeast and remain hungry for new acquisitions, despite rising interest rates and the doom and gloom that you hear in the news,” said Velocity founding partner Tony Grelli.