Savills has advised Lasko Products, Inc. on the disposition of a manufacturing and distribution facility in Columbia, Pennsylvania, marking a notable industrial sale in the state. The property, located at 525 Mill Street, comprises 132,736 square feet of industrial space and was acquired by Kleen-Rite Corp.
The asset traded for $8.95 million, which reflects a price of $67.50 per square foot based on the building’s total area. The transaction provides a reference point for pricing of mid-size industrial facilities in this part of Pennsylvania, where institutional and owner-user buyers continue to seek functional warehouse and production space.
Savills Associate Director Michael Styer and Associate Director Jonathan Kays represented Lasko Products in the sale. The team ran a competitive process, positioning the building and marketing it to a targeted pool of owner-users. According to Styer, the strategy focused on creating competition in the marketplace and leveraging the firm’s existing relationships with owner-users, which helped drive buyer interest and supported a timely closing.
The buyer, Kleen-Rite Corp, secured the Columbia facility at a per-square-foot price aligned with current industrial valuations in the region. While specific business plans for the asset were not disclosed, the acquisition underscores ongoing demand from corporate users for owned real estate in key Pennsylvania logistics and manufacturing corridors.
The transaction comes as Savills reports strengthening fundamentals in the broader regional industrial market. The firm’s Pennsylvania I-81/78 Corridor Q2 2026 Industrial Market Report found that industrial demand in the corridor rose meaningfully in the second quarter. Although activity remains below the peak levels recorded in 2021 and 2022, big-box requirements and speculative development have re-emerged.
Net absorption in the I-81/78 corridor reached 3.2 million square feet during the period, indicating that newly delivered and existing space is being steadily leased or occupied. The return of big-box demand and speculative projects, alongside transactions such as the sale of 525 Mill Street, highlights a market where users and investors are again willing to commit capital and long-term occupancy to well-located industrial assets.
Taken together, the Columbia sale and the corridor-wide absorption data suggest that Pennsylvania’s industrial sector is transitioning from a post-peak slowdown to a more balanced phase, with selective but tangible momentum in both occupier activity and investment sales.
