A partnership between Benchmark Real Estate and Regal Ventures has acquired an 85,053-square-foot industrial building in Easton, Pennsylvania that is fully occupied by Human Active Technology (HAT), a designer and manufacturer of ergonomic workspace solutions.
Regal Ventures is a New York-based real estate investment management company. Benchmark Real Estate, LLC is a vertically integrated, real estate development company based in Lancaster, Pennsylvania. The partnership plans an approximately 70,000-square-foot expansion that will enable HAT to bring its distribution processes on-site.
“We are excited to partner with HAT as they continue their impressive growth trajectory,” said Mike Callahan, managing partner at Benchmark Real Estate. “By recognizing early that HAT’s expanding operations had outgrown their existing footprint, we were able to work with HAT’s plans to present a solution to consolidate local, off-site operations and create meaningful value for both the tenant and the asset. The 70,000-square-foot expansion we structured directly addresses HAT’s current needs and positions the company for continued growth, while strengthening the long-term fundamentals of the property.”
The Easton facility was built in 1972 and renovated in 1993. Situated on a 12.4-acre parcel, the steel-framed building has one grade-level door and five dock-height doors. It is located in the Forks Industrial Park, a master-planned industrial and manufacturing development in Forks Township.
Easton — part of the growing Lehigh Valley region — is located about 18 miles northeast of Allentown. It is about 75 miles northwest of Philadelphia and about 75 miles west of Manhattan.
“The Lehigh Valley remains a compelling, small-bay industrial market in the Northeast. Demand stays robust, while vacancy in the 20,000- to 100,000-square-foot segment sits below four percent,” said David Lawrence, director of acquisitions at Regal Ventures. “100 Kuebler Road exemplifies the opportunity we target: a committed occupant, a well-located asset and a clear path to value creation.”
