Royal Oak Realty Trust acquired a two-building industrial complex in Montgomery County for $29.25 million. The 14-acre property includes 225,000 square feet at 500 Prosperity Drive in Upper Providence Township.

The buildings are fully leased by Global Packaging Inc. Maguire Hayden Real Estate Co., based in Conshohocken, served as the seller. The developer built the first 125,000-square-foot structure in 2019. Additionally, it added a 100,000-square-foot expansion last year to support Global Packaging’s growing needs.

Maguire Hayden purchased the site in 2019 for $15 million, according to county records. The developer did not respond to a request for comment. The property sits along the Schuylkill River, directly across from Phoenixville in Chester County.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.