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Irvine Distribution Center property changes hands

The Irvine Distribution Center property changed hands more than once on the same day this month.

There are not often eight-figure real estate transfers in Warren County.

On Jan. 3, the Warren County Register and Recorder’s Office filed three.

All of those were for the same property — 200 Route 6, also known as 100 to 200 Murray Drive, in Pleasant Township — the BlueStem IDC.

The property was sold by BGI, formerly BlueStem Group Inc., a Nevada corporation, to BLST PA Holdings for $18,520,000.

It was sold by BLST PA Holdings, a Delaware limited liability company, to BGI Inc., a Louisiana corporation, for $23,500,000.

And, it was sold by BGI Inc. (of Louisiana) to Guardian REH Fee Owner LP of Wilmington, Del., for $23,500,000.

The grantor listed on the BlueStem PA Holdings sales was Owner Charles Berger.

Guardian REH Fee Holder took out a $17,000,000 mortgage, filed on the same date, from Deepdale Funding PA LLC of New York.

The signature on that document was that of Guardian Realty Partners LLC Member Charles Berger.

Warren County Register and Recorder Lisa Burkhouse detailed the transfer taxes associated with the three transactions.

The documents showed amounts that add up to 2 percent of each transaction.

For the two valued at $23,500,000, the taxes were $470,000 each.

For the other, the transfer tax total was $370,200.

According to Burkhouse, the Pennsylvania Department of Revenue collects transfer taxes in the amount of 1 percent — $235,000 on each of the larger transactions — and $185,200 on the smaller.

Pleasant Township and Warren County School District each collect one-half of one percent, she said.

That amounted to $117,500 for two transactions and $92,600 for one, for both of the municipalities — meaning the township and the district each collected $327,600.

According to Warren County Chamber of Business and Industry President and CEO Jim Decker, the change in ownership does not change the status of the property — which remains on the market.

Starting at $3.50/week.

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