BPG Properties, Ltd. Acquires 172,759 Square Foot Industrial Facility in the Shenandoah Valley of Virginia
Buena Vista, VA – (June 27, 2007) – BPG Properties, Ltd (BPG), a private equity real estate fund manager, announced that it has acquired a 172,760 square foot modern industrial facility located less than five miles from Interstate 81 near Interstate 64 in the Shenandoah Valley of Virginia. BPG acquired the facility, located at 3200 Forest Avenue, for $3.1 million from the Dana Corporation, who developed and occupied the building since its construction in 1988. Leland Group Commercial Real Estate, LLC represented the buyer in the transaction.
"3200 Forest Avenue is a modern industrial facility located at the crossroads of Interstates 64 and 81, offering superior accessibility along two major east/west and north/south corridors,” commented Daniel M. DiLella Jr., vice president of BPG. “Additionally, it can accommodate both warehouse and manufacturing operations.”
Situated on 24 acres, this single-story industrial facility has excellent loading capabilities with 10 loading dock doors and three drive-in doors and well-above average parking capacity for both cars and trucks. The facility has 23’ clear ceiling heights, a high power load and an ESFR wet sprinkler system. Additionally, it offers approximately 19,000 square feet of office space within two levels, which includes finished offices, reception area and a break room.
The facility is located in Buena Vista, an industrial and manufacturing center in the Shenandoah Valley. It is within 600 miles of 50% of the total US population and is 50 miles from Roanoke, 135 miles from Richmond and 180 miles from Washington, DC.
About BPG Properties, Ltd.
BPG Properties, Ltd. is a private equity real estate fund manager based in the Philadelphia area. The firm’s portfolio consists of over 20 million square feet of office, retail, student housing and industrial properties and more than 25,000 apartment units in over 100 communities located throughout the United States. For additional information on BPG, please visit www.bpgltd.com .
For additional information on BPG Properties, Ltd. please contact:
Holly Reynolds, Vice President, 215-575-2363
For additional information on the property please contact:
Daniel M. DiLella, Jr., Vice President, 215-575-2352