2C — May 11 - 24, 2018 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania
BUILDING PITTSBURGH FOR 55 YEARS
o west , young man (and wom- en)” – We para- By Pete Reinke, Ashley Development Corporation NY &NJ investors identify growth opportunities in the Lehigh Valley “G Trust, Duke Realty, Prologis and Majestic are just a few of the national industrial devel- opers with significant holdings in the region.
five years. The City Center organization literally created a new market downtown sup- ported by some very attractive economic incentives and has transformed the urban cen- ter from “what you probably think of as Allentown” to an enormously attractive and high functioning urban office, retail and housing environment. • Olympus, Air Products, Dunn & Bradstreet, Guardian and hundreds of other office, manufacturing and industrial firms call the Lehigh Valley home. • The Lehigh Valley is the third largest urban/suburban and rural region in Pennsyl- vania, after Philadelphia and Pittsburgh. • The industrial / warehouse/ distribution sector is fast grow- ing and ranked among the top warehouse distribution loca- tions in the country. Since 2014 over 10 million square feet of industrial space has been built, with more currently under con- struction. FedEx is building its largest facility in the entire country adjacent to the Lehigh Valley International Airport. Amazon, Walmart and Uline are among the most recognized 1-million square foot tenants in the region. Liberty Property
phrase the famous 19th century slo- gan attrib- uted to New York news- paper editor Horace Gree- ley comment- ing on the era
• The overhaul of the region’s major highways, Routes 22 and 33, and Interstate 78, has pro- vided more efficient methods of transportation for big box distributors and has become the backbone of the region’s commerce. • Local and New Jersey housing developers have built hundreds of single and multi- family units in the Lehigh Valley in the past few years, taking advantage of the op- portunities provided by the vast amounts of farmland. There was a very large bump of New Jersey residents mov- ing west in the late 1990s and that trend seems to be picking up once again along with the organic housing growth in the community.
ONE OXFORD CENTRE
Pete Reinke
of Manifest Destiny in America – the movement west in the US. As Lehigh Valley, PA-based developers of housing, office, retail and light industrial properties in the Allentown, Bethlehem and Easton, PA region, we invite New York and New Jersey real estate inves- tors to consider our region as a cost-effective place to invest and develop. We can help you identify growth opportunities. “Just the facts – Ma’am” Always loved the phrase from Sargent Friday of the old TV series Dragnet, so here’s a few facts about the Lehigh Val- ley, Pennsylvania real estate marketplace: • There has been $1 billion of office, retail, housing and arena construction in a 5-block area of Allentown in the past
CHILDREN’S HOSPITAL OF PITTSBURGH OF UPMC
• Labor market supply and quality is strong. College grad- uates from Lehigh, Lafayette, Moravian, Muhlenberg, De- Sales and Cedar Crest supply a continual source of new grads. Northampton and Lehigh- Carbon Community Colleges and three vocational technical integrating the ART of landscape architecture with the SCIENCE of civil engineering continue on page 5C
PPG PAINTS ARENA
THE YARDS AT 3 CROSSINGS
AndWe’re Just Getting Started. BURNSWHITE CENTER AT 3 CROSSINGS
The Shoppes at Belmont, Lancaster
Real Estate Development | Project Management | Property Management Leasing & Brokerage | Investment Advisory | Energy Management www.oxforddevelopment.com
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