Building leased to Amazon in Conshohocken sold for almost $100 million

The Philadelphia Business Journal reported today that the property that is home to the recently opened Amazon distribution center at 1113 West Ridge Pike in Conshohocken (Plymouth Township) has been sold for $97 million. That address is next to the Regal movie theater.

From the article:

An institutional buyer has paid $97 million for a 120,000-square-foot building leased to Amazon in Conshohocken, setting yet another high-water market on a per-square-foot basis for an industrial sale in the region, according to multiple market sources.

An undisclosed Korean pension fund bought the building at 1113 W. Ridge Pike for what amounts to just over $808 a square foot. E. Kahn Development Co. was the seller.

You can read the full article here.