Armstrong Finalizes Sale of Lancaster Distribution

Lancaster, PA, May 8, 2006--AA New Jersey investor completed its purchase of the Armstrong World Industries distribution center on Spooky Nook Road for $20.2 million, according to the Lancaster New Era. S-J Realty Management Corp., of Teaneck, N.J., through a new partnership, Lancaster Ventures, bought the vacant 594,000-square-foot building in East Hempfield Township, near Route 283. Handling the deal were Patrick Lafferty and Michael Hess of CB Richard Ellis. As the New Era reported in December, S-J Realty intends to lease its newly acquired space to tenants needing warehousing.