A Palmer Township warehouse has been sold for $4.45 million, not a huge sum by current standards.
The 5 Danforth Drive property was acquired by Willow Properties #28, a limited liability company based on a property overlooking Lake Minnetonka in Wayzata, Minnesota. The seller was an affiliate of Frito Lay, a snack brand owned by PepsiCo.
A real estate listing pitched the deal as a sale / leaseback, meaning an investor buys the building and the tenant stays and pays rent.
The building covers 36,981 square feet, according to the ad. The property is between Route 33 and Tatamy Road.
Palmer assesses a one-half percent tax on real estate transfers, so the township is in for about $22,000 as a result of the deal.
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