William R. Lindsay Of PCCP Acquires Ritner Logistics Center In Newville Pennsylvania For $99M

The property asset involved in this transaction is a 1.2 million square foot industrial warehouse located at 3419 Ritner Highway, Newville, PA. The asset is fully leased and represented as a bulk industrial facility in Central Pennsylvania, which appeals to institutional investors due to its logistics connectivity and strategic location.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Square Footage: 1,200,000 SF
• Address: 3419 Ritner Highway
• Market: Newville, PA
• Buyer: William R. Lindsay
• Company: PCCP

The deal marks PCCP's acquisition of Ritner Logistics Center, occupied by Newell Brands. The strategic location of the property and its pricing in relation to replacement costs were highlighted as key motivations for the acquisition. This indicates the growing interest in bulk industrial assets in the area.