CBRE announced that it has successfully arranged the sale and leaseback of a 291,203 square-foot industrial building on 30.2-acres located at 2452 Quakertown Road in Pennsburg, Pennsylvania. The building, which is net leased through early 2028, was acquired by One Liberty Properties, Inc.

Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team and CBRE National Partners represented the seller, RAF Industries, during negotiations. CBRE’s Paul Touhey and Drew Green assisted with the sale.

“This was a great opportunity for RAF Industries to monetize their asset and sign below market leases for operation efficiencies,” stated Mr. Hines, vice chairman, CBRE.

2452 Quakertown Road was completed and expanded between 1986 and 1994.The industrial propertyhas served as the headquarters for both Campania International and U.S. Tape since 2006.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.