Developer dumps Nestle Way asset

Grubb & Ellis Co. negotiated the sale of a 490,000-square-foot distribution building in Allentown, Pa.

The value of the transaction was not disclosed.

Opus East LLC, a real estate developer serving the Mid-Atlantic region, sold the property to UBS Investment Bank.

The property, located at 910 Nestle Way, was 100 percent triple net leased at the time of sale to DHL for 20 years. Located on 73.5 acres, the site was developed for DHL by Opus East as DHL's East Coast distribution facility and will enable DHL to service customers throughout the Northeast and Mid-Atlantic from Maine to Virginia.

Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.

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