Philmont Industrial

Location: Huntingdon Valley, PA
Type: Industrial
Price: $5,600,000

SMC has provided a $5,600,000 ten-year fixed rate mortgage to refinance existing debt collateralized by Philmont Industrial Building, a 94.3% occupied, 122,670 SF multi-tenant flex industrial building located in Huntingdon Valley, PA, approximately 17 miles northeast of the Philadelphia CBD. The Property’s improvements were originally developed in 1920 and extensively renovated and expanded in 1991. The Property features 14’ to 20’ clear heights, 16 drive-in doors, 5 loading docks, and surface parking. The Property is 94.3% leased to 13 tenants. 50% of in-place tenants have been in occupancy since 2005. The Property’s largest tenant, General Flange, has been in place since 1992 while its second largest tenant, MLCS Woodworking, has been in place since 2000.