Business

February 6, 2014

Morrisville warehouse sold for $26.85 million

A real estate fund has acquired the Burt’s Bees warehouse in Morrisville for $26.85 million, according to property records.

A Los Angeles-based investment firm has acquired the Burt’s Bees warehouse in Morrisville for $26.85 million, according to property records.

The 580,000-square-foot facility at 900 Aviation Parkway was acquired by Ares Management. The seller was Chicago-based Pearlmark Real Estate Partners, which acquired the 33-acre property for $13.67 million in May 2011. That sale was in lieu of foreclosure, according to property records.

The property is 93 precent leased, according to Cushman & Wakefield Thalhimer, which represented the seller.

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