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

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.