NAI Emory Hill, in partnership with NS Development Partners, announced the acquisition of two properties - a portion of underdeveloped land in Garrison Oak Technical Park in Dover and 3030 Kutztown Road in Reading, PA.
The sale price of the two properties was not announced.
Emory Hill is based in New Castle Corporate Commons.
The acquisition at Garrison Oak Technical Park includes 46 acres in a planned technology and energy campus in Dover.
The property is zoned for manufacturing, logistics, and technology uses, With utilities in place and flexible zoning, Garrison Oak provides an opportunity for build-to-suit or redevelopment projects in a market experiencing demand for industrial and technology space.
The site is near the Calpine natural gas-powered electric generation plant.
Located at 3030 Kutztown Road, Kutztown Industrial is a 105,000 square-foot light manufacturing warehouse on 8.33 acres.
The property offers seven loading docks, 140 parking spaces, and 24-foot ceiling heights with a mix of 80,000 square feet of warehouse space and 25,000 square feet of office space. The primary tenant is GAI-TRONICS, a company dedicated to rugged communication systems for industrial markets.
“These two acquisitions reflect the type of opportunities we are most excited about – stabilized income from a strong, long-term tenant at 3030 Kutztown, coupled with significant growth and development potential at Garrison Oak,” said Clay Hill, partner and director of Property Management at Emory Hill. “Together, they strengthen and further diversify our portfolio while also positioning us for both immediate value and long-term impact in two key Mid-Atlantic markets.”
The acquisitions of Kutztown Industrial and parcels at Garrison Oak, along with the earlier purchase this year of a fully-leased 78,780 square-foot industrial/flex property at 2020 Firedancer Lane in Bear.
Its management portfolio includes more than 5.5 million square feet of commercial space across 100-plus properties in Delaware, Pennsylvania, New Jersey and Maryland.
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