LRS Corp. bought 955 Mearns Road, a 303,000-square-foot flex building in Warminster, for $16.1 million. The property was 96.5 percent occupied at the time of sale with seven tenants including ChemPump, which takes up more than half of the property. The seller, an affiliate of MIM-Hayden Real Estate, bought the building in 2011 at auction for $11.2 million. At the time, the property was in receivership and in need of upgrades. MIM-Hayden invested in it, renamed it Mearns Park and leased it up. Multiple offers were made on the building. Robert Beach of Procision Commercial Realty represented the buyer while Dan Mayock and Adam Gillespie of SSH Real Estate represented the seller.
By Natalie Kostelni
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