Griffin Land & Nurseries Inc., which has its core real estate holdings in Connecticut, said today it has reached an $8.2 million agreement to acquire an industrial building and undeveloped land in Pennsylvania.
The New York-based company said it has entered into two separate purchase agreements to acquire a 120,000 square foot industrial building in Breinigsville, Penn., and a 51-acre parcel of undeveloped land in Lower Nazareth, Penn.
The properties were auctioned off as part of a bankruptcy proceeding, the company said.
The undeveloped land is expected to support the development of two industrial buildings totaling about 530,000 square feet, the company said.
Griffin said the proposed deal represents their first real estate acquisition outside Greater Hartford.
