EQT Exeter has acquired eight buildings in the Naamans Creek Business Center in Boothwyn for $48.5 million, writes Natalie Kostelni for Philadelphia Business Journal.

The properties, totaling 265,757 square feet are located off Rt. 322 a short distance from Interstate 95 and the Philadelphia International Airport.

The buildings, which will be added to EQT’s industrial portfolio, were 100 percent leased at the time of the acquisition to 16 tenants.

The tenants include Pentec Health, Nielsen-Kellerman Co., UnitedHealth Group, Federated Healthcare Supply Inc., and Patterson Dental. .

SSH Real Estate sold the buildings to EQT.

It had purchased them initially in three separate transactions totaling $28 million.

SSH first purchased 7, 9, and 12 Creek Parkway along with 23 and 25 Creek Circle, a total of 191,000 square feet, for $16.2 million in 2017.

In 2018, SSH paid $8.9 million for 3 Creek Parkway, a 17,668-square-foot building, and 4 Creek Parkway, a 32,360-square-foot building.

In 2021, it paid $2.85 million for a 25,000-square-foot building at 21 Creek Circle.

The sale to EQT for $48.5 indicates the increased value flex and industrial buildings have over time.

Exeter is a real estate investment management firm specializing in the acquisition, development, leasing, and management of industrial, office and related business park properties.

Read more at Philadelphia Business Journal about the EQT acquisition.