- DC

E Saltzman &Knowles of Lee & Associates serve as tenant representatives Duke Realty leases 628,475 s/f whse. and begins construction on 1,015,740 s/f spec bldg.

ISSUE HIGHLIGHTS Volume 29 Issue 17 Sept. 15 - 28, 2017


customer had outgrown their existing space in the Lehigh Valley, but wanted to remain in the market to effectively service their clients throughout the Northeast. 33 Logistics Center 1611 was an ideal build- ing for them because it gave them the additional space they need, plus keeps them in a lo- cation that is strategic to their operations.” Matt Bremner and Cait English with Duke Realty and its listing agents Bill Wolf and Sean Bleiler , both with CBRE , represented Duke Realty in the transaction. Construction on 33 Logistics Park 1620 has begun, with delivery scheduled for April 2018. In addition to 36' clear height, the cross-dock build- ing will feature LED lights, 120 fully equipped dock doors, four drive-in doors and park- ing for 245 trailers and 472 automobiles. n

aston, PA — The Pennsylvania office of Duke Realty Corpo- ration (Duke Realty) has leased its recently delivered 628,475 s/f bulk warehouse and started construction of a 1,015,740 s/f spec industrial building in 33 Logistics Park, an industrial development located in Easton, on the east side of the Lehigh Valley just off Rte. 33 at the new four-way diamond interchange at Main St. A national third-party lo- gistics company will occupy 33 Logistics Park 1611, which was delivered in early July. 33 Logistics Park 1620, the new building Duke Realty is con- structing, will be its third in 33 Logistics Park and adjacent to 1611 and a 1.1 million s/f, fully leased bulk warehouse the company delivered in 2016. “We are pleased to welcome


RPC arranges $35m for the re f i nance of The Fairmount at Brewerytown Upcoming Conferences Oct. 6, 2017 NJ Leadership Conference Nov. 9, 2017 New Jersey Capital Philadelphia Office & Industrial Real Estate Summit For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea.christman@marejournal.com 5A Markets Summit Nov. 10, 2017

1611 (628,475) in the foreground and 1620 (1,015,740) under construction

our new tenant to 33 Logis- tics Park 1611 and excited to start another building in this dynamic distribution park,” said Jeff Palmquist , senior vice president of Duke Realty’s Northeast Region. “With the quick lease-up of both of our bulk warehouses in 33 Logis- tics Park and ongoing demand

for distribution space in the Lehigh Valley, we wanted to be sure that we are well-posi- tioned to offer move-in ready, first-class space to companies with immediate space needs.” Tenant representatives Dave Saltzman and Brian Knowles with Lee & As- sociates said, “Our tenant’s

Greysteel arranges the sale of a Capitol Hill, DCmultifamily community portfolio for $34m

Washington, DC — Greysteel has arranged the sale of a two multifamily com-

munity port- folio located i n Ca p i t o l Hill, Wash- ington, DC. The trans- actions were brokered by G r e y s t e e l p r e s i d e n t

W. Kyle Tangney


Upcoming Spotlights NJ’s Governors Conference on Housing & Economic Development Fall Preview INSURANCE/TITLE Financial Digest................................................5-16A DelMarVa.......................................................17-19A New Jersey................................................. Section B Pennsylvania.............................................. Section C

Capitol Hill, Washington, DC portfolio of Capitol East Apartments, a 120-unit multifamily commu- nity located at 518 9th St., NE and 816 E St., NE, and Lex- ington Apartments, a 48-unit multifamily community located just blocks away at 1114 F St. NE, Washington, D.C. The Properties are situated in the renowned Capitol Hill neighborhood of Washington, DC just south of the booming H St. corridor. They are ideally

positioned within easy walking distance of the U.S. Capitol, the Library of Congress, House and Senate Office Buildings, and a wealth of shopping, dining, grocery, and nightlife amenities along H St. “Both Captiol East and Lex- ington Apartments presented an outstanding value-add op- portunity in Capitol Hill, one of the most sought-after addresses in the District,” said Tangney. n

and CEO Ari Firoozabadi ; managing director W. Kyle Tangney ; director Rawles Wilcox ; and investment asso- ciate Herbert Schwat of the firm’s Washington, D.C. office who served as advisor and agent. The properties sold from Pennsylvania based Wexford Management to international multifamily operator Akelius Residential for $34 million. The portfolio was comprised


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