JLL, a firm that specializes in real estate and investment management, announced last week that Cabot Properties has purchased a 174,400 square foot warehouse at 444 E. North Lane in Conshohocken for $16,410,000. The previous owner was a private ownership entity.
The warehouse is currently 100% occupied by David’s Bridal under a long-term lease. Built in 1974, the warehouse offers 20 foot clear heights and ample loading capability with 18 loading doors and one drive-in.
Executive Vice President John Plower led the JLL team on the sale, with support from Managing Director James Galbally, Executive Vice President Chad Orcutt, Senior Vice President Brett Grifo, and Vice President Colin Behr.
“The competitive advantages of 444. E. North Lane are clear, including a highly desirable urban infill location that is difficult and costly to replicate,” said Plower. “Functional, in-fill product near a dense population is in high demand for industrial investors, and JLL was excited to connect Cabot Properties with a facility that offered this advantage.”