Times Observer file photo Part of the shuttered Irvine Distribution Center is pictured.

The Irvine Distribution Center has a new out-of-state owner.

Cushman & Wakefield, global commercial real estate services firm, announced Tuesday that it has arranged a $25,500,000 loan for the financing for a new owner to purchase the center, located at 100-200 Murray Drive. The purchase includes an 853,611-square-foot industrial portfolio.

Cushman & Wakefield’s Equity, Debt & Structured Finance team of Brad Domenico, Frank Stanislaski, and Ethan Thompson represented the borrower, Yisroel Cherns, in the transaction.

“This deal highlights the strength of industrial assets in Northwestern Pennsylvania, where a central location, robust transportation access, and strong workforce fundamentals continue to attract a diverse tenant base,” said Domenico. “With a mix of global and regional tenants and strong recent leasing momentum, 100 & 200 Murray Drive’s scale, quality, and stability made this an especially compelling financing opportunity.”

The real estate firm said the two-building portfolio is strategically located with direct access to Route 62, connecting it to major transportation arteries including I-86, I-79, I-80, and I-90. The property features institutional-grade infrastructure, including high bay sections with clear heights up to 70 feet, heavy power, and 59 dock doors.

The portfolio benefits from a diverse and reputable tenant roster, including Cummins, Inc., Whirley Industries, and USA Medical Supplies. Recent leasing success has brought the property to 83% occupancy, demonstrating its strong position within the market and appeal to a wide range of industrial users.

The property had been owned by Guardian Reh Fee Owner LP, a Pomona, NY-based firm. The facility was closed in 2021 and resulted in nearly 300 employees losing their jobs. The corporate parent for the distribution center had declared bankruptcy in 2020. The property had been purchased for $23.5 million in January 2022.

Yisroel Cherns, one of three principals of the United National Property Preservation Group (UNPPG), is the founder, president and CEO of a real estate and health care management company specializing in the stabilization of distressed properties. Established in 2012, the United National Property Preservation Group (UNPPG) began as a property preservation company that manages distressed properties on behalf of banks across the United States. The company’s portfolio spans multiple sectors, including nursing facilities and assisted living homes, as well as behavioral health and rehabilitation centers.