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Real Estate Journal — Pennsylvania — Section C
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Knowles and Zahniser of Lee & Associates to represent owner Dermody Properties breaks ground on 73 acres at LogistiCenter at Lehigh Valley East in PA W IND GAP, PA — Dermody Prop- erties , a national 450 East Moorestown Rd. in Wind Gap, in the Northampton County submarket. Construc- needed to transfer ownership and start construction.
It is being represented by Brian Knowles, CCIM, SIOR and Eric Zahniser of Lee & Associates of Eastern Pennsylvania. Vertek Con- struction will be the general contractor. “Dermody Properties’ com- mitment to the Pennsylvania logistics market dates back decades,” said Douglas A. Kiersey, Jr. , president of Dermody Properties. “This lat- est project is truly indicative of how we invest in excellent markets that appeal to our logistics clients, including ecommerce companies.” LogistiCenterSM, a nation- ally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing class A distribu- tion and logistics facilities that meet the supply-chain require- ments of the most innovative companies.
tion of the first building is scheduled to be com- plete in the 4th quarter, 2 0 1 9 . Th e second build- ing will be completed in
private eq- uity real es- tate invest- ment, devel- opment and management company fo- cused on the logistics real estate sector,
Brian Knowles
Eric Zahniser
early 2020. Withmore than 93 million s/f of industrial space, the Lehigh Valley market is a desired location for manufacturing, warehouse/distribution, and ecommerce companies. Among the advantages of the Lehigh Valley are a solid workforce, strong manufacturing base, key interstates, proximity to the NY/NJ port and a new FedEx Ground Hub located in Bethlehem which has opened the doors for local and national manufacturing and warehous- ing/distribution companies to
HI-LIGHTS JUNE 14 - 27, 2019 RUBENSTEIN & AMERIMAR DELIVERS NEW CHOP SPACE recently broke ground on two buildings in a 557,820 s/f com- plex located 80 miles from the Port of New York and New Jersey. It will be located at
450 East Moorestown Rd. site plan
Building 1 will have 349,920 s/f of available space and Build- ing 2 will have 207,900 s/f. Both will have a 36-foot clear height, ample car parking and dock doors, making them ideal for ecommerce. The buildings will sit on approximately 73.1 net acres. The property was purchased from Ashley Development , ledby LouPektor , and Vertek ConstructionManagement, who were both instrumental in facilitating the approvals
call the Lehigh Valley home. “This is an outstanding loca- tion for logistics-focused com- panies because of its ability to provide our customers with easy access to the markets of the northeast United States, and the ports are gateways to the rest of the world,“ said Eugene Preston , east region partner for Dermody Proper- ties. “We are committed to this region and we feel this is an excellent location for our customers.”
Colliers represents CarbonLITE in East Coast Expansionwith 270,000 s/f lease in Berks County
MUHLENBERG TWP., PA — Colliers International’s Logistics and Transpor-
tation Solu- tions team o f M a r k Chubb, Mi- chael Zerbe, S u m m e r C o u l t e r and Kirsten Kurz has rep- resented Car-
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SPOTLIGHT NORTHERN PA 5-7C
Mark Chubb
bonLITE in the finalization of a new lease with Endurance Real Estate Group for the construction of a 270,000 s/f warehouse and manufacturing facility on 18.44 acres of land in Muhlenberg Twp., Berks County. It is currently known as Berks61. CarbonLITE is the largest producer of food-grade Post- consumer Recycled PET in the world. The firm, founded by plastics entrepreneur Leon Farahnik, specializes in pro- cessing used plastic bottles into bottle-grade PET resin flakes and pellets that can then be
CAPITAL COMMERCIAL REAL ESTATE BROKERS $7.8 MILLION SALE IN CHESTER COUNTY
“Reading was right for Car- bonLITE, access to one of the densest concentrations of blue- collar workers in Eastern PA with very few competitive big- box employers of similar scale will serve themwell” said Mark Chubb, a managing director with Colliers on the project team. Site work has commenced and CarbonLITE expects to CarbonLITE site plan
used to manufacture new plas- tic beverage bottles and other products. This move represents a stra- tegic East Coast expansion for CarbonLITE, who currently operates two 220,000 s/f bottle- to-bottle PET recycling plants in Riverside, California and Dallas, TX which, combined, process more than four billion plastic bottles annually.
take delivery in December of this year. The building will con- tain 270,000 RSF with concrete tilt wall construction, 36’ clear height, a TPO roof, ESFR sprin- kler, LED lighting with motion sensors, 42 dock positions, 3 drive-in doors, available rail ac- cess, and a 3,000 amp, 3-phase electric system. The develop- ment has been approved for a LERTA tax abatement.
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