Ferrero USA, the U.S. arm of the third-largest confectionery company in the world, leased First Industrial Realty Trust's Class A distribution building at First Logistics Center @ I-78/81 in Jonestown, Pennsylvania.
The 738,720-square-foot, single-story structure at 112 Bordnersville Road comprises 135 loading docks, four drive-in bays, 56- by 54-foot column spacing and a 40-foot clear ceiling height. Completed by the owner in 2018, the 4-Star property spans 84.5 acres adjacent to Interstate 81.
First Industrial Realty Trust (NYSE: FR), a Chicago-based owner, operator and developer of industrial real estate, recently reported its first-quarter 2019 results, which included signing 1.8 million square feet of new leases for development and value-add acquisitions year-to-date.
First Industrial's President and Chief Executive Officer Peter Baccile said in a statement, "We continue to see broad-based demand for industrial real estate, reflected in our recent leasing wins at our developments and value-add acquisitions, as well as our portfolio performance. Given low national vacancy levels and supply and demand near equilibrium, the environment for rental rate growth in the sector remains favorable."
www.omegare.com
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