By Paul Schwedelson – Reporter, Philadelphia Business Journal
A third-party logistics company has leased half an industrial building in NorthPoint Development’s Keystone Trade Center in Fairless Hills, the latest deal at the former U.S. Steel site.
Monroe, New Jersey-based US Elogistics signed a lease for 517,641 square feet at 500 Ben Fairless Drive, known as Building 5 of the 1,800-acre Bucks County site. That leaves 518,055 square feet available, or half of the 1.04 million-square-foot building.
Kansas City, Missouri-based NorthPoint is building out a $1.5 billion logistics hub with around 20 warehouses totaling more than 10 million square feet with the potential to build out to 15 million square feet.
Keystone Trade Center's initial two buildings, the project’s first phase, have been completed and are fully leased. With the completion of Building 5, the second phase is completed and the third is under construction. The third phase consists of Buildings 7, 8 and 9, according to Colliers’ marketing materials.
Tenants at the Keystone Trade Center include FedEx, Jillamy and Savino Del Bene.
Building 5 specifically has 40-foot clear heights, 52 dock doors, two drive-in doors, 118 dedicated trailer parking spots and 391 car parking spots.
After seeing success at the Keystone Trade Center, NorthPoint continued investing in the Philadelphia region by breaking ground last April on a $590 million, 3.8 million-square-foot industrial project in South Jersey's Woodstown named Turnpike 1 Trade Center. The project consists of four warehouses being built speculatively without tenants.
Full story: https://tinyurl.com/yc7tynrz
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