01.24.05
AMC DELANCEY GROUP ACQUIRES 32,100-SF INDUSTRIAL PROPERTY IN HOUSTON, TX
 

Contact
Kathleen Pallas, Beckerman Public Relations
(908) 781-6420, Kathleen@beckermanpr.com

PHILADELPHIA, PA, JANUARY 24, 2005--AMC Delancey Group, Inc., a Philadelphia, Pennsylvania-based national real estate investment company, announced the acquisition of a 32,100-square-foot industrial building located at 10830 Train Court in Houston, Texas. Michael Wachs, Vice President of Acquisitions, served as in-house representative for this sale transaction.

“We are pleased to announce the acquisition of 10830 Train Court,” said Kenneth P. Balin, President and CEO of AMC Delancey Group. “This acquisition reflects AMC Delancey’s strategic business plan to expand our national market coverage and deliver exceptional risk adjusted returns to a select group of private investors and operating partners.”

Clay Peeples, of Boyd Commercial, Inc., represented the seller, PMC Machine Tool Parts, Inc., in the sale of 10830 Train Court.

“This acquisition represents a fundamentally sound asset in a very strategic location,” said Michael Wachs, Vice President of AMC Delancey Group. “We expect that a lease for a full-building user will be signed shortly with a high quality tenant. While the building is only two years old and in excellent condition, AMC Delancey intends to expand and improve the building for the tenant.”

A unique feature of 10830 Train Court is that it is equipped with 30,000-square-feet of dual-crane served shop area, which is especially appealing to a variety of distribution services.

Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a long-term investor in real estate that invests directly and with a select group of local real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company targets value-added investment opportunities in the multi-family, office, industrial, hotel and retail sectors. AMC Delancey is planning approximately $500 million in new investments over the next several years and continues to seek long-term relationships with strategic real estate operating partners in new markets. For more information on AMC Delancey Group, visit www.amcdelancey.com.