$90 Million Central Pennsylvania Industrial Acquisition

On June 21, 2016, Higgins & Brancheau LLC completed a $90 million Central Pennsylvania industrial property acquisition and financing for one of our real estate clients. The property consists of a single-story warehouse and distribution center totaling more than one million square feet and is wholly leased to a tenant that manufactures garden tools and accessories. We represented the purchaser and its pension fund partner. Our tasks included contract negotiation, due diligence, loan document negotiation, rendering a legal opinion, negotiating estoppel certificates, and title and survey review. The Seller accepted our client’s offer in mid-April and the transaction was closed in just over sixty days.