BHN Associates Buys Philadelphia-Area Industrial Building

The asset is fully leased to two tenants and includes a significant office component.
1515 Garnet Mine Road. Image courtesy of CBRE

Evergreen Private Finance has sold a 172,071-square-foot, fully leased industrial facility in Garnet Valley, Pa. BHN Associates was the buyer.

Completed in 1974 and renovated in 2002, the asset is located at 1515 Garnet Mine Road and includes 48,000 square feet of office space, with the rest being production and warehouse space. The building features 16 to 24-foot ceiling heights as well as 10 raised loading docks, with the possibility of expanding with additional ones per request. The Mine Studios LLC occupies 119,031 square feet, while the remaining space is leased to Club W Inc.

Located on 4 acres along the Interstate 95 corridor, the property is 25 miles southwest of Center City Philadelphia and 14 miles northeast of Wilmington, Del. Philadelphia International Airport is 13 miles away, while routes 202 and 1 are situated minutes away from the property.

CBRE’s Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki represented the seller. Italiano Commercial Real Estate Service’s Steve Italiano also assisted with the sale. Last year, the same CBRE team facilitated the sale of another industrial property in the area.