Crownwood Industrial

Acquisition

Benchmark Real Estate acquired an existing 220,000 SF, 100% occupied, 25-acre Crownwood Industrial Park located in Bristol Township, Bucks County, PA, utilizing a joint venture partnership to secure the acquisition. As part of the transaction, the site’s largest tenant approached the team to acquire one of the complex’s buildings. Benchmark and its partner created an industrial condominium ownership strategy to seamlessly allow the tenant to purchase their building and the partnership to retain the remaining. After the transaction, the partnership maintains four condos containing 106,000 SF of 100% occupied industrial buildings, trailer parking, IOS space, 6.92 acres of undeveloped land with 100,170 SF of approved land development plans, and a billboard.