Haverford-based real estate investment firm Sandkris Properties Inc. has paid $32 million for a 249,400-square-foot industrial building at the Park Pointe at Lower Providence Corporate Center in Montgomery County.
The building at 2621 Van Buren Ave. was acquired from an ownership group involving Foster City, Calif.-based Bailard Inc., Robert Beach, president of brokerage Procision Commercial Realty in Washington Township, N.J., said in a release emailed Wednesday.
The building is 93% occupied, with tenants including Comcast Corp., PJM Interconnection LLC, and Paychex Inc., said Beach, who represented Sandkris in the deal. Key to its decision to acquire the property was the property’s location near King of Prussia, he said.
The sellers’ group was represented by a team at commercial real estate firm JLL.