A Bucks County Warehouse Just Resold for 2.6 Times What a Blackstone Affiliate Paid
Westcore Properties paid $52.75 million for a 281,600 square foot building in Bristol that a Link Logistics affiliate bought for $20.4 million.
Westcore Properties, a San Diego real estate firm, paid $52.75 million, about $187.32 a square foot, for the 281,600 square foot industrial building at 100 Crossings Drive in Bristol, Commercial Real Estate Direct reported. The seller was an affiliate of Link Logistics, the industrial investment arm of Blackstone, which had paid $20.4 million for the same building.
A Blackstone-scale owner walking away with 2.6 times its basis on a Bucks County box says more about where replacement cost and rent have moved than any single broker quote could. That corridor along I-95 and Route 13 has carried cheap basis for years, and this trade just reset what a seller there can ask for.
If you own industrial product anywhere near that stretch and haven't had it reappraised against a 2026 trade, you're pricing off an old number. An out-of-market buyer paying this per-square-foot figure for an older building is the comp to use the next time you talk to a lender or a broker about it.
Source: Commercial Real Estate Direct
Why it matters
A 2.6 times resale on a Bucks County warehouse is the new comp for that corridor. Owners holding older industrial basis nearby should get it reappraised before they lease or sell on last cycle's numbers.
Corridor
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