Friday, March 27, 2015

Ridgeline Developing Logistics Center in York, PA

by Steve Lubetkin,
Responding to the shortage of class A bulk warehouse space in the surging Central Pennsylvania industrial market, Ridgeline Property Group will develop a 423,300-square-foot industrial speculative building in York, PA.  Cabot Properties Inc. will be RPG’s capital partner for Susquehanna Logistics Center, which will be built on a 51-acre site providing immediate access to Interstate 83.

Construction will begin in late March and will be completed in December 2015.  The 423,300-square-foot distribution facility will feature 32-foot clear heights, 87 dock doors, 52-foot by 54-foot column spacing, early suppression fast response (ESFR) fire sprinklers and high-capacity parking, including 179 auto spaces and 146 trailer storage stalls.

“With strong absorption rates combined with the extremely limited supply currently available, this market is primed for the modern and efficient class A distribution space that Susquehanna Logistics Center will provide,” says Greg Thurman, CEO of Ridgeline Property Group. “There is virtually no class A space between 200,000 and 400,000 square feet available in Central Pennsylvania, and this is the only zoned and entitled industrial site between Harrisburg and Baltimore that can bring a class A project to market in the near term. The timing couldn’t be better for us to team with our long-term partner Cabot Properties on this distribution building.”

York County’s strategic location between Baltimore and Harrisburg, its healthy supply and demand fundamentals, and a strong labor pool combine to make the submarket a key logistics hub. The overall vacancy rate for class A product in York County has dipped below four percent, placing supply at shortage levels, and absorption has reached near record levels.

“We’re pleased to partner with a best-in-class developer, Ridgeline Property Group, on this class A industrial building to meet the growing demand for high-quality industrial space 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 Susquehanna Logistics Center to provide the Central Pennsylvania market with much-needed class A distribution space,” says Patrick V. Ryan, executive vice president of investments at Cabot Properties.

Located on Second Amendment Drive in York, PA, the Susquehanna Logistics Center site is just over a half-mile from the Exit 8 interchange of I-83 and minutes from US Route 30, two major north-south and east-west routes, respectively, that connect the project to Philadelphia, Washington, D.C., Baltimore and other important industrial markets. In addition, the York County submarket offers distributors and manufacturers convenient access to the Port of Baltimore, three major intermodal rail stations, and FedEx and UPS distribution hubs.

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