February 26, 2016
American Realty Advisors has struck a deal with Dermody Properties and PCCP LLC for a 700,000-square-foot warehouse/distribution property at 2 Ames Dr. in Carlisle, PA. The property is a fulfillment center for Amazon Inc., which has a lease through 2024.
Dermody, represented by Michael Hines and Brian Fiumara of CBRE in the transaction, had acquired the property in 2012 from Trammell Crow, and made tenant improvements in 2014. The asset is located near Allen and Walnut Bottom Roads. A sales price was not readily available.
“The center’s great location in a key logistics market, its high quality construction, and the fact that it is fully leased long-term to a credit tenant are three factors that we believe will provide our investors with an attractive current income stream,” said Eric Cannon, American Realty’s senior director.