4636 Somerton Road, Bensalem, PA. – NAI MERTZ
NAI Mertz said Aug. 23 that Senior Vice President Jeff Licht and Sales Associate Jared Licht completed the sale of 4636 Somerton Road in Bensalem, Pa., to J.G. Petrucci Co. Inc. Andrew Somple of NAI Hanson assisted the Lichts in this transaction.
The pair orchestrated the sale-leaseback of 113,000 square feet within assorted buildings at the 300,000-square-foot complex on 46 acres. The seller, SUEZ Water Technologies, will lease back 93,000-square-foot of industrial, office and lab space, and former GE Subsidiary, RLS USA Inc. will occupy 20,000 square feet of assorted space.
“Now is a great time for companies that own their buildings to consider a sale-leaseback transaction,” stated Jeff Licht. “The unprecedented demand we’re seeing in the industrial sector provides companies the ability to liquidate these assets at a premium to raise capital for their operations. We are pleased to have assisted SUEZ with this opportunity and now excited to work with our long-time client, J.G. Petrucci, as they brainstorm additional on site development options.”
The Suez Water Technologies & Solutions Campus property totals 46 acres improved with 11 mixed-use buildings comprising over 332,400 square feet of space. Its Bucks County location, just 20 miles from Center City Philadelphia and Trenton, offers convenience to Interstate 95 and the Pennsylvania Turnpike.
“We love the site as well as our two new quality tenants and the upside development potential here,” said J.G. Petrucci Principal Greg Rogerson. “It would be remiss of me if I didn’t thank the Licht boys for exposing us to this opportunity. Jeff and Jared are always fun, positive and creative to work with and we’re very happy that we got this deal done.”
