4C — August 10 - 23, 2018 — Pennsylvania — M id A tlantic
Real Estate Journal
P ennsylvania Gelman with Gelcor Realty represents tenant
Duke Realty’s 33 Logistics Park, a 2.7 million s/f ind. development in Lehigh Valley, fully leased
ASTON, PA — The Pennsylvania office of Duke Realty Corpo- ration , a domestic-focused in- dustrial REIT (Real Estate In- vestment Trust) in the United States, announced that it has leased its third bulk warehouse in 33 Logistics Park, bringing the 2.7 million-s/f industrial development in the Lehigh Valley to 100% occupancy. 33 Logistics Park is located on the east side of the Lehigh Valley just off Rte. 33 at the new four- way diamond interchange at Main St. in Easton. Duke Realty began develop- E
ment of 33 Logistics Park in 2014 with the purchase of a 63-acre site and construction of a 1,106,442 s/f building which was leased immediately upon completion in early 2016. Duke Realty subsequently purchased 134 acres and began develop- ment of its second building a 628,475 s/f building which was placed in service and leased in July 2017. 33 Logistics Park 1620, a 1,015,740 s/f facility and Duke Realty’s last building in the industrial park, has been preleased by a leading logistics services provider shortly before delivering this month.
“33 Logistics Park’s desir- able location and highway access have been attractive to all three companies that have signed leases for our facilities,” said Jeff Palmquist , senior vice president of Duke Realty’s Northeast Region. “From here our tenants have superior ac- cess to the highly populated New York City metropolitan area and can easily connect to I-78, I-81 and I-80, putting them within a day’s drive of more than 40% of the U.S. and Canadian populations.” Brokers involved in the lease of 33 Logistics Park 1620 in- clude tenant representative Jonathan Gelman with Gel- cor Realty , while Duke Realty was represented by Matthew Bremner and Cait English along with its listing brokers Bill Wolf and Sean Bleiler with CBRE . To complement 33 Logistics Park andmeet ongoing demand for quality warehouse space in the market, Duke Realty cur- rently has a spec industrial building under construction in Bethel Twp. in Berks County at the western edge of the Lehigh Valley. Prestige Group welcomes Thompson to sales team DEVON, PA — Prestige Group continues to expand with the addition of Nile dustrial/flex properties as well as sales of multi-family and investment properties. Thompson comes to Prestige Group from the insurance in- dustry where he worked for a Fortune 250 company and was involved in the sales of long term care annuities and other insurance products. Thompson’s degree in Fi- nance and Environmental Science from Ursinus College give him a unique perspective of the complex world of com- mercial real estate sales. He is able to thoroughly under- stand the financial aspects of a transaction as well as navigate the environmental issues that often arise. Nile Thompson Thompson to their com- mercial real estate sales team. Thompson i s spe c i a l - izing in the s a l e s a n d leasing of in-
33 Logistics Park
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