GreenWorks Development LLC, a key player in the redevelopment of Midtown Harrisburg for more than a decade, has sold a two-story office building in the city for nearly $6.4 million in a bid to free up capital for other Harrisburg investments.
GreenWorks, based in Harrisburg, bought the 58,000-square-foot building at 1001 N. Sixth St. for $4.7 million in 2010. Home of Dauphin County Children and Youth and the Pennsylvania Higher Education Assistance Agency, the building is fully occupied.
The building’s new owner is Chester County-based EJM Investments LLC, which bought it as an investment property, according to agents with NAI CIR, who handled the listing.
“We are more than excited to not only add to our investment portfolio on such a meaningful level, but, more importantly, be a part of the Harrisburg business community,” Eric Miller, managing partner, said in a statement. “The tenants that occupy 1001 N. 6th St. are not only an important cornerstone of the Harrisburg community, but both offer distinct and vital services that contribute to the lives and well-being of others — something that is in line with our core business philosophy.”
GreenWorks CEO Doug Neidich added: “It was a good time to sell and shift some resources to the core of Midtown. It was a strategic move to reinforce our work of building out the educational corridor we have been working on.”
Neidich has been working on an “Education Row” plan around HACC’s Midtown campus at Third and Reily streets since 2014. The goal has been to bring together within a block different layers of the education system that can take students from prekindergarten through a four-year college degree. In the process, the project aims to inject new education-based businesses into Midtown.
GreenWorks also wants to sell its office building on North Front Street to move closer to the educational corridor.
NAI CIR’s Ryan Murray and Joseph Bedard handled the sale of the North Sixth Street property.
This story has been modified to include comments from Eric Miller of EJM Investments.