PCCP LLC And MRP Industrial Acquire 57-Acre Industrial Site In York, Pennsylvania For $13.5M
500 Willow Springs Lane York, Pennsylvania 17406, USA
$13,500,000
$20/SF
Building Size
674,000 SF
Asset Type
Development Site
Closing
Aug 18, 2023
AI
A 57-acre site located at 500 Willow Springs Lane in York, Pennsylvania has been sold for $13,500,000. The property is designated for an industrial park called Expressway Commerce Center, consisting of two buildings totaling 674,000 square feet. The market value of the property is $20 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $13,500,000
- Address: 500 Willow Springs Lane, York, Pennsylvania
- Market: York, Pennsylvania
- Size: 57 acres
- Buyer: PCCP LLC; MRP Industrial - Matt Clymer
- Seller: The Maple Press Co.
- Square Footage: 674,000
- Price per Square Foot: $20
PCCP LLC and MRP Industrial, represented by Matt Clymer, have acquired the site to develop the Expressway Commerce Center. The industrial park is expected to meet the strong demand in the Central Pennsylvania submarket. It will offer modern facilities and benefit from its strategic location near major transportation routes. The project is scheduled for completion in the third quarter of 2024.
Players
York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93