CBRE Arranges Sale of 55,000-SF Office Building in Harrisburg, Pennsylvania

CBRE has arranged the sale of 5 Capital Drive, a 55,000-square-foot Class A office building in Harrisburg. An affiliate of Kest & York purchased the property from FIVE CAPITAL ASSOCIATES, LLC for an undisclosed amount, marking the investor's first acquisition in the Harrisburg market.

CBRE Investment Properties' Steve Marzullo and Adam Silverman, along with Jeremy Shyk and David Sickler represented the seller in the transaction. Joanne Williams of CBRE's Debt and Structured Finance team secured the financing on behalf of the buyer. Jeremy Shyk will continue to oversee leasing of the property.

“5 Capital Drive has long been a standout asset in our region, making this an especially meaningful transaction for our team, which also handled the property's previous sale,” said Marzullo. “This transaction is a great indicator of the continued demand for high-quality, suburban office space in Central Pennsylvania, and we are thrilled to have helped bring a new investor into the fold.”

Built in 2008, 5 Capital Drive is strategically located near Interstates 81 and 83 and PA Routes 22 and 322, providing convenient access to downtown Harrisburg and the Camp Hill Business District. The four-story property features several amenities, including an energy-efficient geothermal HVAC system, abundant natural lighting, a fitness center and outdoor balconies, and is leased to a diverse mix of established regional and national tenants.

“Kest & York is excited to add 5 Capital Drive to its growing office portfolio as it expands across North American markets,” said Shyk. “The property represents a reimagined Class A asset that thrives in today's market with institutional quality space, energy efficiency, premium location, and distinctive outdoor access, including onsite scenic trails and Paxton Creek views. With ideal suites ranging from 1,000 to 14,000 square feet, great window-to-floor ratios and eager new ownership, the property offers a unique value proposition that modern tenants demand.”