Partnership acquires three industrial buildings and an adjoining development site in Greater Philadelphia

Using an industrial condominium ownership strategy, a partnership between Benchmark Real Estate and Regal Ventures has acquired Crownwood Industrial Estates in Bristol, Pennsylvania, for $22 million. As part of the transaction, the complex's largest tenant, Penn Steel Fabrication, purchased one of the buildings from the partnership for roughly $11.6 million.

Situated 22 miles northeast of Philadelphia along the I-95 corridor, the 25-acre site encompasses three flex-industrial buildings totaling 218,410 square feet, plus an adjoining development site fully approved for additional industrial construction.