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Boston Investment Firm Purchases New Triple Net Lehigh Valley Industrial Building

UPS Subsidiary Happy Occupies Single Tenant Facility Under Triple Net Lease
Joint venture partners The Keith Corp. and Kiel Group sold this 91,555-square-foot industrial building to Cabot Properties for $17,425,000 or $190.32 per square foot. The fully leased single-tenant distribution building was completed in 2024. (CoStar)<br>
Joint venture partners The Keith Corp. and Kiel Group sold this 91,555-square-foot industrial building to Cabot Properties for $17,425,000 or $190.32 per square foot. The fully leased single-tenant distribution building was completed in 2024. (CoStar)
By Christopher Ashworth
CoStar Research
May 20, 2024 | 11:14 P.M.

North Carolina-based industrial property developer The Keith Corp. and its joint venture partner, Kiel Group of Bethlehem, Pennsylvania, last month sold the smallest of its muilt-building Hamburg Commerce Park in Shoemakersville, Pennsylvania, after leasing the newly developed 91,555-square-foot industrial building to Happy Returns, a UPS subsidiary and reverse logistics company that partners with e-commerce fims, logistics providers, and retail technology platforms to process exchanges and returns.

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