CBRE Arranges $5.75 Million Sale of Two Industrial Buildings with Mixed-Use Residential Potential in Bucks County, PA

CBRE has arranged the $5.75 million sale of two interconnected buildings totaling 165,175 sq.ft. on an 8.13-acre site with potential for mixed-use/residential redevelopment at 45 N 4th Street in the heart of downtown Quakertown Borough in Bucks County, PA. The buyer was Coleman Investment Properties.

The CBRE team of Steve Marzullo, Adam Silverman, and Dale Lewis spearheaded the marketing campaign and represented the seller, Mativ, Neenah Northeast LLC, in the negotiations.

The property was originally constructed in the late 1800s by the Quakertown Electric Light Company and the buildings were expanded multiple times through 1981. Having been occupied and owned by various production companies, the sale to the locally based industrial portfolio owner represents the first time the property was re-introduced to the market for one or more industrial tenants.

The property, which is ideal for both continued industrial use or redevelopment as mixed-use/residential, was most recently used by Mativ until 2024 in its specialty tapes manufacturing business. This offering represented a rare value-add opportunity through extensive capital improvements and a lease-up of the vacant building. On behalf of ownership, CBRE conducted a broad marketing process with strong investor interest and secured multiple competitive offers.

“The disposition of 45 N 4th Street was complex, involving the decommissioning of a production operation in the building that existed for several decades,” said Marzullo. “The deal required the timely cooperation of the seller, buyer, lender, Quakertown Borough, and several contractors. We’re excited to see the transformation of the property planned by the Colemans. The industrial space available will provide affordable leasing opportunities to businesses in a supply-constrained industrial market.”

The property includes a nearly 30,000 sq.ft. office, maintenance and storage building on the south side of the site connected via an enclosed walkway over the Licking Run Creek to a 135,462 sq.ft. manufacturing and warehousing building. The larger building features six tailgate loading docks and three drive-in doors. There are also three rail doors for a spur that can be returned to service. The entire facility is sprinklered.

“Centrally located in Quakertown Borough, the renovation and new occupancy of 45 N 4th Street will contribute to the ongoing revitalization of the Borough, add significant jobs, bolster tax revenues, and provide economic stimulus to other local businesses,” added Silverman.