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Denholtz Properties Acquires 723,734-Square-Foot Lehigh Valley Portfolio

4 January 2024

Denholtz Properties announces it has acquired the Lehigh Valley Portfolio, an 18-building, 723,734-square-foot portfolio across Allentown and Bethlehem, Pa. This transaction is the latest acquisition for Denholtz Properties’ joint venture, which focuses on acquiring and developing multi-tenant industrial properties across the United States. Brad Ruppel and Tristan Cade of CBRE represented the seller, PennCap Properties, in the transaction.


The Lehigh Valley Portfolio comprises versatile spaces in a prime infill location along Route 22 within the Interstate 78/Interstate 81 Corridor. Each building provides tenants with excellent connectivity to the entire Lehigh Valley market as well as the metropolitan areas of Philadelphia and New York City. The portfolio’s strategic location and adaptability make it a preferred choice for businesses across a wide range of industries.


“The Lehigh Valley’s favorable demographics and access to substantial population centers across the eastern United States, combined with a limited new construction pipeline, make it a highly desirable market for us,” said Mark Mahasky, Director of Acquisitions and Capital Transactions at Denholtz Properties. “We look forward to implementing our time-tested asset management strategy across this portfolio to create a premier experience for the area’s tenants.”


With over 150 million square feet of industrial space, the Lehigh Valley submarket is one of the most competitive in the Interstate 78/Interstate 81 Corridor, which stretches across eastern and central Pennsylvania. According to the latest data from CBRE, the market continues to experience strong year-over-year rent growth and a limited supply of new construction, positioning it for long-term stability.

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