6B — May 27 - June 9, 2016 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
www.marejournal.com
O wners , D evelopers & M anagers
To develop industrial speculative building in Jonestown, PA Ridgeline Property Group breaks ground on 400,000 s/f Crossroads Logistics Center J
petitive supply, this market is primed for the modern, effi- cient, cross-docked class A dis- tribution space that Crossroads Logistics Center will provide,” said Chris Ciliberti , partner of Ridgeline Property Group’s northeast operations. Greg Thurman , RPG’s CEO added, “This is RPG’s second project in Pennsylvania, and we are excited to continue to expand the RPG platform na- tionally, and particularly in the Central PA market.” Crossroads Logistics Center’s strategic location at the conflu- ence of I-81 and I-78 provides
excellent access throughout the Northeast region. Located 20 miles northeast of Harrisburg, the large and well-trained workforce within a 30-minute commute creates a strong in- centive for companies to oper- ate in this location. The overall vacancy rate for class A product in Central Pennsylvania is just above 4 percent, placing supply at shortage levels, and absorp- tion has remained strong. “We’re pleased to partner with a best-in-class developer, Ridgeline Property Group, on this Class A industrial build- ing in this crucial distribution market. RPG has a successful track record developing bulk distribution space across the country, and we look forward to partnering with them on Crossroads Logistics Center to provide the Central Pennsylva- nia market with much-needed class A distribution space,” said Martha Shelley, Senior Portfolio Manager at American Realty Advisors. Located on MSC Dr. in Jonestown, Crossroads Logis- tics Center is just over three quarters of a mile from I-81, and just over two miles from the I-81/I-78 Interchange, two major north-south and east- west routes, respectively, that connect the project to Phila- delphia, Washington, D.C., Baltimore, New York and other important industrial markets. In addition, the location offers distributors and manufactur- ers convenient access to three major intermodal rail stations, as well as FedEx and UPS distribution hubs. “The invest- ment in a new ground up, class A, distribution facility in this critical Central PA location is a strategic investment for American and is anticipated to provide favorable risk-adjusted returns to our investors,” added Shelley. The distribution facility will feature 36-foot clear heights, 85 dock doors in a cross-docked configuration, four drive-in doors, highly efficient 55-foot by 56-foot column spacing, early suppression fast response (ESFR) fire sprinklers and high-capacity parking, includ- ing 206 auto spaces and 116 trailer storage stalls. The proj- ect has received the LERTA (Local Economic Revitalization Tax Assistance) Tax Abatement at the township level, with County and School District approval expected in mid-May 2016. n
ONESTOWN, PA — Re- sponding to continuing class A bulk warehouse space demand in the healthy Central PA industrial market, Ridgeline Property Group (RPG) has broken ground on a 398,250 s/f industrial specu- lative building in Jonestown. American Realty Advisors and RPG have created a joint venture to develop Crossroads Logistics Center , which will be built on a 35-acre site pro- viding immediate access to Interstate 81. Crossroads Logistics Center is anticipated to be completed
Crossroads Logistics Center
in December 2016. Jake Ter- kanian, Joe McDermott and Vince Ranalli of CBRE ’s Philadelphia office have been
selected to market the property for lease. “With strong absorption rates combined with limited com-
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