A prominent office building at the entrance of Lehigh Valley Industrial Park IV off Route 512 sold for $6.4 million.
DLP Lehigh Valley Building LLC of Bethlehem bought the three-story, 72,923 square-foot- building at 95 Highland Ave. from Highland Plaza LLC, according to Northampton County transaction records.
The 4.3-acre property in Hanover Township, Northampton County, is 75 percent occupied.
Tom Skeans, managing director of SVN Imperial Realty in South Whitehall Township, represented the seller in the transaction. The auction price was $6.15 million, while the buyer had to pay a 5 percent premium, which was why the final price was higher, Skeans said.
Skeans used Ten-X.com, an online commercial real estate auction marketplace, to accelerate the sale of the asset.
Don Wenner CEO of DLP Realty Advisors in Bethlehem represented the buyer in the transaction. His company also owns DLP Lehigh Valley Building LLC.
The property’s tenants include Siemens, M&T Bank and Mutual of Omaha.
The buyer did not respond to requests for comment.