6-12-20

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Campbell with Cushman and Wakefield served as listing broker Duke Realty developing 615,600 s/f build-to-suit warehouse inMyerstown, PA

ISSUE HIGHLIGHTS Volume 32, Issue 11 June 12 - 25, 2020 Section B NEW JERSEY/ PENNSYLVANIA 5-13A CREATIVE FINANCING

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for efficiently serving our 16 regional distributions centers via its proximity to I-81, I-78 and I-83. The site was pad- ready which expedited the building’s delivery. We are extremely pleased with the results and our partnership with Duke Realty.” The new building, which will be known as Central Logistics Park 100, is located at 100 Fort Motel Dr. in My- erstown. Max Finkelstein’s new building includes 7,000 s/f of office space and incor - porates 45' clear height and LED lighting. The remain- ing acreage on the site can accommodate additional de- velopment of up to 584,820 s/f Vincent Ranalli with CBRE represented Max Finkelstein, Inc. in the trans- action while Duke Realty was represented by listing broker Adam Campbell with Cushman and Wake- field and Scott Henderson, SIOR and Caitlin English with Duke Realty. MAREJ

YERSTOWN, PA — The Pennsylva- nia office of Duke

Realty Cor- pora t i on , one of the leading do- mestic only, pure-play lo- gistics prop- erty REITs (Real Estate Investment

Adam Campbell

Trust) in the United States, announced that progress on the 615,600 s/f, build-to-suit warehouse for Max Finkel- stein, Inc., one of the nation’s largest independent, family- owned wholesale distributors of passenger and light truck tires, is on schedule with de- livery expected in the spring of 2020. The building is being constructed on part of a 132- acre parcel less than 10 miles east of the split between I-81 and I-78 in Berks County, PA, at the western edge of the Le- high Valley submarket. “Max Finkelstein has been

Central Logistics Park 100

in business for more than 100 years and has operations throughout the Northeast and Mid-Atlantic States. We are excited to deliver a new, cus- tom-designed, state-of-the-art facility that will be a core com- ponent in their supply chain,” said Art Makris , senior vice president for Duke Realty in the Northeast region of the United States. “This new facility incorporates modern features, including increased clear heights, enhanced light- ing and a state-of-the-art fire protection system, which will

provide them with enhanced storage and warehouse ca- pabilities, along with a safe operating environment.” “Designing a state-of-the- art, purpose-built warehouse to serve as the hub of our distribution center network, meeting all of our specific requirements, is critical to our growth.” said Sean Fran- ciscus, chief operating officer with Max Finkelstein. “We selected Duke Realty due to their ability to deliver a facil- ity with all of the features we need and in the ideal location

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UPCOMING CONFERENCES 6 th Annual NJ Industrial Development Conference September 2, 2020 6 th Annual NJ CRE Leadership Honoring Women in Real Estate September 9, 2020 5 th Annual PA Healthcare & Medical Conference For speaking and sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com

Brennan Investment Group acquires Lehigh Valley 380,274 s/f 3-building industrial portfolio

LEHIGH VALLEY, PA — Brennan Investment Group announced the ac- quisition of a three-building industrial portfolio, totaling 380,274 s/f located in the Le- high Valley. The buildings are 100% leased to five tenants. The portfolio is located in the

Directory ROP (Front Section) .................................... Section A Contributing Columnist ........ Scott R. Saunders, Asset Preservation, Inc. IRS Notice Extends 1031 Exchange Deadlines . ...... 2A Creative Financing ............................................ 5-13A CIRC.................................................................... 16A Business Card Directory & Billboard Directory ..... 15A New Jersey.......................................................1-12B Pennsylvania .................................................13-BC B www.marej.com

folio's location provides access to all major thoroughfares, including Rtes. 22 and 23, as well as I-78 and I-476. "The I-78/I-81 Industrial Corridor has strong funda- mentals, with 1.6 million s/f of positive net absorption year- to-date and an occupancy rate of 94%," said Chris Massey , managing principal at Bren- nan Investment Group. "We are excited to add this invest- ment to our Northeast portfo- 100 Cascade Dr., Allentown, PA

I-78/I-81 Industrial Corridor, one of the most sought-after locations in the Northeast for logistics having direct access to NewYork and Philadelphia. The portfolio is in close prox- imity to the new $335 million FedEx Ground hub which will be the largest FedEx facility in the U.S. The buildings are also adjacent to Lehigh Valley International Airport, where Amazon will build a new hub for consumer goods. The port-

lio, which is now approaching five million s/f in 14 submar - kets throughout this region." "This acquisition demon- strates Brennan's capabil- ity to acquire assets below replacement cost in strong infill locations while support - ing our objective of delivering strong risk adjusted returns to our investors," said Michael Brennan , chairman andman- aging principal at Brennan Investment Group. MAREJ

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