23
Properties
1,000,000+
Square feet
26
Years sponsoring
PropertySize
801 Spangler Road, Camp Hill, PA159,544 SF
3201 Fulling Mill Road, Middletown, PA92,567 SF
30–32 Industrial Road, Elizabethtown, PA81,239 SF
5095 Ritter Road, Mechanicsburg, PA79,193 SF
Phoenix Realty Partners, Reading, PA69,190 SF
450 Powers, Harrisburg, PA64,169 SF
381 Independence, Mechanicsburg, PA63,842 SF
425 N. 21st Street, Camp Hill, PA59,802 SF
99 Industrial Road, Elizabethtown, PA52,362 SF
515 Grove Street Associates, Haddon Heights, NJ42,139 SF
Bretz Drive, Harrisburg, PA38,168 SF
27–33 N. Cameron, Harrisburg, PA31,064 SF
1501 Fulling Mill, Lower Swatara, PA29,700 SF
207 House Avenue, Camp Hill, PA24,996 SF
City Line Partners, Lower Merion, PA23,185 SF
7235 Penn Drive, Allentown, PA18,781 SF
553 Foundry Road, Norristown, PA18,200 SF
3 Starter Drive, Frackville, PA18,000 SF
550 Commence Drive LLC, Lakeland, FL14,312 SF
527 Gitts Run, Hanover, PA13,800 SF
1921 Spring Road, Carlisle, PA7,316 SF
530 Conchester Highway, Boothwyn, PA6,800 SF
1435 City Line Corp, Lower Merion, PA1,800 SF

Held by entities affiliated with the principals (J&R Investments and affiliates). This is not the track record of Corbel Partners, a newly formed venture with no operating history, and is not indicative of the results of any investment with Corbel Partners. Occupancy by property was not available at this update and is not represented.

1921 Spring Road, Carlisle, Pennsylvania, brick medical office building with clerestory glazing

1921 Spring Road, Carlisle, PA.

553 Foundry Road, Norristown, Pennsylvania, small-bay light industrial building

553 Foundry Road, Norristown, PA.

530 Conchester Highway, Boothwyn, Pennsylvania, single-tenant veterinary building

530 Conchester Highway, Boothwyn, PA.

Sourcing

Where the deals come from

Corbel is new. The relationships are decades old. In this size band the seller is almost always another local owner, and the people who hear first are the ones who have been buying, financing and selling in the same submarkets the entire time.

OwnersTwenty-two buildings held across the same Pennsylvania and New Jersey submarkets. Owners at this size know each other, and a decision to sell is usually discussed well before it is listed.
BrokersAn active sell-side practice sees which owners are testing price before a listing exists. Below $3 million a broker's real risk is a buyer who cannot close, which is why buyers with a closing history get the first call.
LendersMaturing debt is one of the most common reasons a small building comes to market. Three decades of borrowing in the same region means those conversations happen with people who already know the principals.

Not every acquisition will be off-market, and we bid marketed deals on the same terms as anyone else. These relationships matter because they add deals the marketed process never produces, not because they replace it.

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