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1004 New Holland Ave, Lanca...

Updated Oct 28, 2024

Jersey Holdings Acquires Mixed-Use Property On New Holland Ave, Lancaster For $30.2M
SOLDMixed-use

Jersey Holdings Acquires Mixed-Use Property On New Holland Ave, Lancaster For $30.2M

1004 New Holland Ave, Lancaster, PA, USA

$30,200,000

$25/SF

Building Size

1,200,000 SF

Asset Type

Mixed-use

Closing

May 18, 2021

About this deal

AI

The mixed-use property located at 1004 New Holland Ave in Lancaster, PA has been sold in a recent transaction. The property consists of both office and industrial spaces, offering a versatile environment for various businesses. With a total area of 1,200,000 square feet, the property boasts ample space for tenants to operate their operations. The transaction took place on May 19, 2021, and the property was acquired by Jersey Holdings. The seller, BURLE Business Park LP, facilitated the sale through the representation of Bill Tourtellotte from CBRE. The sale price for the property was $30,200,000, resulting in a price per square foot of $25.

Summary of transaction details:

  • Property Type: Mixed-use (office & Industrial)
  • Transaction Amount: $30,200,000
  • Address: 1004 New Holland Ave, Lancaster, PA
  • Market: Lancaster, PA
  • Buyer: Jersey Holdings
  • Seller: BURLE Business Park LP
  • Broker: Bill Tourtellotte - CBRE
  • Square Footage: 1,200,000
  • Price per Square Foot: $25

The involvement of Bill Tourtellotte from CBRE as the representative for BURLE Business Park LP showcases the expertise and professionalism brought to the deal. This transaction highlights the growing interest in mixed-use properties in Lancaster, PA, giving businesses the opportunity to access both office and industrial spaces in a single location.

Players

Bill Tourtellotte

CBRE

Broker

$31.6M

vol

2 deals

Broker

Lancaster Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $25 per square foot on a published $30.2M for 1,200,000 square feet (2021).

Visit Bill Tourtellotte to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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