Adams County warehouse sold for more than $11M

The Keurig Dr. Pepper Distribution Center, a 218,000-square foot industrial property at 2105 Carlisle Road in Aspers, Adams County, sold for $11.25 million, according to commercial real estate broker Marcus & Millichap, which listed the property.

The buyer was the Lightstone Group, a limited liability company. The unidentified seller is a personal trust.

“The Adams County economy relies upon the manufacturing and food services industries,” Mher Vartanian, a vice president of investments in Marcus & Millichap’s Philadelphia office, said in a release. “Its centralized location provides easy access to several metros and makes it an ideal location for warehousing. Keurig Dr. Pepper has deep ties to the Aspers area, having been a tenant at the property for over 39 years and operating an over 600,000-square-foot bottling plant less than a mile away.”

“Our team has still been able to get transactions across the finish line even in a high-interest rate environment,” added Craig Dunkle, senior vice president of investments. “This continues to prove that there still is strong demand for net-leased industrial properties.”

“We’d also like to thank both Jack Ford and Brain Underkofler from the Lightstone Group for their tireless efforts in consummating this transaction,” he added. “It was a true team effort working with both the buyers and sellers to bring this purchase to a successful close of escrow.”

New York City-based Lightstone develops, manages and invests in all sectors of the real estate industry, its website said, with a portfolio of more than 182 properties in 26 states.

Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion.

Paula Wolf is a freelance writer