Westcore, a fully integrated industrial real estate investment company, has acquired Keystone Crossings II, a 281,600-square-foot distribution facility at 100 Crossings Drive in Bristol, Pennsylvania, for $52,750,000 in partnership with a longtime public retirement system capital partner. The fully leased, Class A- building sits at the I-95, I-276 and I-295 interchange in Lower Bucks County, one of the most active industrial submarkets in the Philadelphia metro.

“Greater Philadelphia is one of the East Coast’s key industrial markets, and Lower Bucks County sits at the center of it, with limited new supply, a deep tenant base and direct access to PhilaPort and the I-95 corridor,” said Westcore’s Chief Acquisitions Officer Hack Adams. “Keystone Crossings II is a high-quality, fully leased distribution building in a supply-constrained submarket. It is exactly the kind of asset our regional acquisitions model is built to find, and with Ben Swift leading sourcing for Westcore across East Coast markets, we are well positioned to continue growing our presence in this region.”

Keystone Crossings II places roughly 127.9 million consumers, or about 38% of the U.S. population, within a one-day truck drive, with convenient access to PhilaPort, the Port of Wilmington, Philadelphia International Airport and Class I rail. Completed in 2004 on 26.57 acres, the building features 32-foot clear heights, ESFR fire protection, 43 dock doors, two drive-in doors and a 130-foot truck court. The property is fully leased to two tenants, including a national specialty bridal and formalwear retailer and a global information management services provider. Both tenants have occupied the building for more than 20 years and have made substantial investments in their operations at the site.