Monday, February 29, 2016

Dermody Properties Leases 500,400 SQ in Eastern PA

by Steve Lubetikin,
Dermody Properties and Granite Real Estate Investment Trust have leased the majority of their 750,000-square-foot industrial facility in the Lehigh Valley to a global consumer electronics company they declined to identify. The company has leased 500,400 square feet of the facility, which is located in the 323-acre industrial park known as Berks Park 78.

“When the Dermody Properties and Granite teams began developing this facility, we wanted to build a modern, flexible-use industrial facility that fit the needs of innovative, customer-centric companies,” says Gene Preston, partner, Dermody Properties East Region Office. “With the majority of the facility now leased, we are pleased to see that vision come to fruition.”

The new facility provides the tenant with a larger, state-of-the-art industrial space from which to expand its distribution operations. The company will move into the facility in April and use the space primarily for the distribution of its consumer home appliances.

Berks Park 78 is located in the heart of the Lehigh Valley, within 45 minutes of nearly 1.5 million consumers, putting 35 percent of the U.S. population and 50 percent of Canadian consumers within a one-day drive of its facilities. The industrial park is also home to PetSmart and Dollar General.

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