Lehigh Valley Getting Another Large Industrial

by Steve Lubetkin, Globest.com
The Lehigh Valley is getting another industrial development, as Dermody Properties and PCCP will develop a 475,800-square-foot industrial facility at 4200 E. Braden Blvd. in Forks Township, PA.

Dermody Properties will start construction on the facility, known as LogistiCenter at 33, in the fourth quarter of 2015 and expects to complete construction in mid-2016. Upon completion, LogistiCenter at 33 will feature 36 feet of clear height, 226 car parking spaces and 85 trailer parking spaces.

Last month, as reported by GlobeSt.com, the partners announced the acquisition of a 43-acre site in Jonestown, Lebanon County, PA, where they plan to build LogistiCenter78-81, a class A, 405,000-square-foot distribution center.

“The Lehigh Valley is a highly desirable industrial market,” says Gene Preston, partner, Dermody Properties East Region Office. “We look forward to expanding our presence there with the addition of a state-of-the-art industrial facility at the site in Forks Township.”

LogistiCenter at 33 will be suited for warehouse, distribution and manufacturing operations. The facility is centrally located in the heart of the Lehigh Valley near such corporate neighbors as Weyerhaeuser, Crayola, Victaulic and Mondelez, and is within minutes of Interstate 78 and Route 33 via the new Main Street interchange just west of the site.

Dermody is the industrial developer and operating partner, and PCCP is the financial partner on the project.

“PCCP sees this as a compelling opportunity to develop a class A industrial facility with Dermody Properties, a best-in-class developer,” says John Randall, managing director with PCCP. “Additionally, the local industrial market incorporates all of the key fundamentals that promise to attract large user interest. Our goal is to pre-lease the property prior to completion of construction.”

“Dermody Properties has been developing facilities for lease and build-to-suit in the Pennsylvania markets for many years,” says Douglas A. Kiersey, Jr., president, Dermody Properties. “We are pleased to expand our investment in this market, and specifically in the Lehigh Valley, with the addition of LogistiCenter at 33 to our portfolio.”
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