A
NJ-based investment company led by office supply boss Moses Schwartz has
acquired a 75-acre industrial office campus in Lancaster, PA, for $30 million.
CBRE
announced it arranged the sale of BURLE Business Park, a 1.2 million
square-foot multi-tenant mixed use office and industrial park located at 1004
New Holland Avenue in Lancaster, Pennsylvania.
Schwartz’ Freehold-based Jersey Holdings plans to invest in “significant capital improvements” to the 75-acre campus, which was 90 percent occupied at the time of sale.
CBRE Senior Vice President Bill Tourtellotte represented the seller, BURLE Business Park LP. The partnership is comprised of family members of the individuals who acquired the property in 1987.