Opus East Sells 51 Acres for $1.8 Million

By William Spruill, III | April 8, 2010

Griffin Land, the real estate division of Griffin Land & Nurseries, acquired a 51-acre site located along Fritch Drive in Nazareth, PA for, $1.8 million, or $35,300 per acre, from Opus East.

The buyer has obtained approvals to build two warehouses of 301,000 and 228,000 square feet at the site. It is anticipated that each warehouse will be constructed with pre-cast panels and have ample parking. The site also has the possibility of rail service from a Conrail line. It is located off of Broadhead Drive, in close proximity to Route 22.

William Wolf and Sean Bleiler of CB Richard Ellis are currently marketing the proposed space for lease.

Please refer to CoStar COMPS #1891458 for more information on this transaction.