Friday, January 16, 2015

Primark Leases 677K SF Lehigh Valley

by Steve Lubetkin Staff writer for the Philadelphia

 2485 Commerce Center Boulevard, a 677,088 square feet facility within Lehigh Valley Industrial Park VII, was leased by UK retail company Primark. This location will serve as their primary east coast distribution facility as the company makes its first venture into the United States.

“This is a truly significant transaction for the entire Lehigh Valley community. This site is part of the overall redevelopment of the former Bethlehem Steel Company properties. The neighborhood now includes Walmart, which recently leased 2.4 million square feet of space in two buildings, Crayola, which leased 800,000 square feet, and Zulily, which also leased 800,000 square feet

“The Lehigh Valley has become the preferred location for distribution of product to customers in the Mid-Atlantic and Northeast. The major companies that have located in Lehigh Valley versus New Jersey is significant.”

The property offers immediate access to I-78 and is adjacent to the Norfolk Southern Bethlehem Intermodal Terminal, making it ideally situated for a distribution center. Primark took advantage of the LERTA tax abatement zone and signed a 10-year lease. It has also recently leased the former Sears store at the King of Prussia Mall, and will be opening several more retail locations along the east coast.

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