CB Richard Ellis arranges 665,542 sq. ft. industrial sale

PHILADELPHIA – Los Angeles-based CB Richard Ellis has represented Atlanta and New York-based Lend Lease Real Estate Investments Inc. in the sale of a four-building, 665,542 sq. ft. industrial portfolio that spans two states. Dallas-based Invesco Realty Advisors bought the portfolio. The sale price was not disclosed.

Commodore 295 Business Center in Woolwich Township, N.J., includes two buildings totaling 403,000 sq. ft. of warehouse and distribution space. Major tenants include Kodak Polychrome Graphics, Trek Bicycle and ITW Hobart Brothers.

The second property, located in New Castle County, Del., comprises two buildings totaling 263,000 sq. ft. Major tenants include Precise Technology and Livingston Healthcare.

Douglas G. Joseph, first vice president of investment properties, and Bill Goodwin, senior vice president of industrial properties, from CB Richard Ellis arranged the transaction on behalf of Lend Lease.

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