Trevose, Pa. (June 30, 2021) – NAI James E. Hanson announces it has negotiated the sale and partial leaseback of an 11-building, 332,400-square-foot industrial campus on 45.75 acres located at 4636 Somerton Road in Trevose, Pa. NAI James E. Hanson’s Andrew Somple, SIOR, and Justin Allessio represented the seller, SUEZ Water Technologies and Solutions (WTS) USA, in the sale with the buyer, J.G. Petrucci Company, Inc. As part of the agreement, SUEZ USA has leased back 93,000 square feet to retain its headquarters at the property. Additionally, RLS USA, Inc., a former GE subsidiary, will lease 20,000 square feet for research and development.
A mixed-use campus comprised of office, specialized laboratory, and warehouse space, 4636 Somerton Road boasts a strategic regional location in Bucks County, Pa. Located one mile from the intersection of I-276 and Route 1, the property is situated 15 miles from Philadelphia and 80 miles from New York City. Recognizing the tremendous investment opportunity offered by the property, SUEZ USA, an international provider of water technologies and solutions, retained the NAI Hanson team of Somple and Allessio to secure a buyer who would agree to the terms of a sale-leaseback agreement, allowing SUEZ to retain their key operations on of their former Somerton Road headquarters.
Due to the property’s strategic location, size and flexibility, Somple and Allessio recognized 4636 Somerton Road was well suited for a range of potential uses and marketed the property to a wide net of qualified buyers. The buyer plans to demolish several of the existing office buildings and construct an industrial warehouse in their place.
“The pandemic’s economic impacts are still reverberating across the country with some sectors bouncing back more quickly than others,” said Somple. “The sale-leaseback has become a viable option for many businesses in today’s post-COVID environment who are looking to quickly increase their cashflow, shed extraneous real estate, and continue to successfully operate their businesses. We were pleased to leverage our deep industrial market expertise to help SUEZ USA address their shifting space needs while also capitalizing on a strong market.”