National private equity firm Dermody Properties has completed construction on LogistiCenter at Midway South, a 304,000-square-foot industrial facility under construction in Bethel Township, Pennsylvania.
The property at 9024 Old Route 22 is suited for manufacturing, warehouse/distribution and e-commerce companies. The facility includes a 36-foot clear ceiling height, 44 dock doors, a 54- by 60-foot loading bay, 89 trailer stalls and 151 parking spaces.
Dermody Properties East Region Partner Gene Preston said in a statement, "This facility offers well-designed, efficient space for manufacturing, warehouse, distribution and ecommerce companies. The property’s proximity to I-78 offers outstanding access to all of eastern Pennsylvania and the greater New York consumer population bases."
Dermody Properties has invested in more than 83 million square feet of industrial space since its launch in 1960, according to its website.
www.omegare.com
Tuesday, December 31, 2019
Monday, December 30, 2019
Impulse Dynamics Inks Deal for Headquarters Near Philadelphia
Medical device company Impulse Dynamics has leased 18,000 square feet of office space for its headquarters at Gateway Business Park in Mount Laurel, New Jersey.
The 78,599-square-foot building at 523 Fellowship Road was built in 1986. Spanning 5.8 acres, the single-story facility is less than 12 miles from downtown Philadelphia.
www.omegare.com
The 78,599-square-foot building at 523 Fellowship Road was built in 1986. Spanning 5.8 acres, the single-story facility is less than 12 miles from downtown Philadelphia.
www.omegare.com
Chewy to Bring 1,000 New Jobs, 1M SF Fulfillment Center to Northeastern PA
by John Jordan Globest.com
State officials announced earlier this week that the growing online pet merchandise company Chewy will be expanding its operations in Lackawanna County that will create at least 1,000 new jobs in the state.
The firm, which is co-headquartered in Dania Beach, FL and Boston, has committed to spend approximately $35 million in its expansion in Lackawanna County with a 1-million-square-foot build to suit location in Archbald Borough.
The new fulfillment center will be Chewy’s third Pennsylvania location. The company maintains customer service centers in Hollywood, FL and Dallas; pharmacy operations in Louisville, KY and nine fulfillment centers across the country
Chewy will be located in a facility in the Valley View Business Park, a mixed-use business park, part of a 1,300-acre development project, developed by The Greater Scranton Chamber of Commerce, using several funding sources, including support from the Commonwealth of Pennsylvania through various loan and grant programs.
Chewy received a funding proposal from the Pennsylvania Department of Community and Economic Development for the project. The proposal includes a $582,000 workforce development grant. In addition to the 1,000 new jobs, the company has committed to retain 2,401 existing jobs throughout the state over the next three years.
“We’re thrilled to continue our growth in Pennsylvania with the opening of Chewy’s third fulfillment center in the state and tenth in the country,” said Pete Krilles, VP, corporate real estate and facilities for Chewy. “The launch of this new location will create 1,000 new, full-time jobs, deepening our economic investment in the northeast Pennsylvania region. In addition, it will further extend our delivery network across the Northeast and Midwest, enhancing the customer experience by providing even faster order delivery times.”
www.omegare.com
State officials announced earlier this week that the growing online pet merchandise company Chewy will be expanding its operations in Lackawanna County that will create at least 1,000 new jobs in the state.
The firm, which is co-headquartered in Dania Beach, FL and Boston, has committed to spend approximately $35 million in its expansion in Lackawanna County with a 1-million-square-foot build to suit location in Archbald Borough.
The new fulfillment center will be Chewy’s third Pennsylvania location. The company maintains customer service centers in Hollywood, FL and Dallas; pharmacy operations in Louisville, KY and nine fulfillment centers across the country
Chewy will be located in a facility in the Valley View Business Park, a mixed-use business park, part of a 1,300-acre development project, developed by The Greater Scranton Chamber of Commerce, using several funding sources, including support from the Commonwealth of Pennsylvania through various loan and grant programs.
Chewy received a funding proposal from the Pennsylvania Department of Community and Economic Development for the project. The proposal includes a $582,000 workforce development grant. In addition to the 1,000 new jobs, the company has committed to retain 2,401 existing jobs throughout the state over the next three years.
“We’re thrilled to continue our growth in Pennsylvania with the opening of Chewy’s third fulfillment center in the state and tenth in the country,” said Pete Krilles, VP, corporate real estate and facilities for Chewy. “The launch of this new location will create 1,000 new, full-time jobs, deepening our economic investment in the northeast Pennsylvania region. In addition, it will further extend our delivery network across the Northeast and Midwest, enhancing the customer experience by providing even faster order delivery times.”
www.omegare.com
Monday, December 23, 2019
PA Apartment Complex Trades for $5.7 Million
by John Jordan Globest.com
The 96-unit Meadowbrook Lane Apartments community here has traded for $5.7 million.
The 96-unit development at 881 Meadowbrook Lane was built in 1987 and is situated on 4.25 acres. The complex features 96 one-bedroom units in two-story row apartments. Each unit includes a washer and dryer, individual entrances and a balcony or patio with one parking space.
The buyer of the property was not identified.
“This was an excellent opportunity for the purchaser to acquire a value-add property and enter a new market. The purchaser plans to complete renovations on units as they turn over.”
The property is located in south central Pennsylvania in the Cumberland Valley region. Chambersburg is surrounded by large Amish and Mennonite farm communities. While the cost of living is low in the region, the economy is mainly agriculturally-based with manufacturing being the largest sector in terms of payroll.
Major employers in and near the town include Summit Health Services/Chambersburg Hospital, Chambersburg Area School District, Franklin County government, Ventura Foods, Wilson College and Letter Kenny Army Depot and Camp David nearby.
www.omegare.com
The 96-unit Meadowbrook Lane Apartments community here has traded for $5.7 million.
The 96-unit development at 881 Meadowbrook Lane was built in 1987 and is situated on 4.25 acres. The complex features 96 one-bedroom units in two-story row apartments. Each unit includes a washer and dryer, individual entrances and a balcony or patio with one parking space.
The buyer of the property was not identified.
“This was an excellent opportunity for the purchaser to acquire a value-add property and enter a new market. The purchaser plans to complete renovations on units as they turn over.”
The property is located in south central Pennsylvania in the Cumberland Valley region. Chambersburg is surrounded by large Amish and Mennonite farm communities. While the cost of living is low in the region, the economy is mainly agriculturally-based with manufacturing being the largest sector in terms of payroll.
Major employers in and near the town include Summit Health Services/Chambersburg Hospital, Chambersburg Area School District, Franklin County government, Ventura Foods, Wilson College and Letter Kenny Army Depot and Camp David nearby.
www.omegare.com
The Canopy Philadelphia Center City to Open in Spring 2020
by John Jordan Globest.com
National Real Estate Development LLC reports that it will be adding a new 236-room Hilton-branded hotel to its East Market development in Center City here.
The Washington, DC-based firm, which is the development arm of National Real Estate Advisors, has announced the addition of Canopy Philadelphia Center City, which will be part of the Hilton portfolio. The hotel is scheduled to open in the spring of 2020 at 1180 Ludlow St.
Designed by BLT Architects and being developed as an adaptive reuse of the historic Stephen Girard Building, Canopy Philadelphia will feature a signature restaurant and bar program, which will include an American brasserie with French influence. Additionally, amenities and services will include the Canopy Bike Program, a complimentary evening tasting of wine, spirits and beer, and approximately 3,600 square feet of indoor and outdoor meeting space.
“Canopy is thrilled to be joining the East Market neighborhood in Center City Philadelphia,” says Gary Steffen, global head, Canopy by Hilton. “Our hotels are located in the most desirable neighborhoods across the globe, so when it came time to determine a location for our new property here in Philadelphia, the choice was easy. East Market has everything visitors look for, including immediate access to world class shopping, restaurants, popular tourist destinations and public transportation.”
Launched in 2014, there are currently 12 Canopy properties open around the globe and more than 40 under development across 13 countries and territories.
Bounded by Market, Chestnut, and 11th and 12th streets, the East Market project has transformed the city’s primary east-west corridor into a full block of stores, popular restaurants, creative office spaces, including Design Center Philadelphia, MOM’s Organic Market, Wawa, Iron Hill Brewery, City Fitness, District Taco and WeWork. The project also includes two brand new luxury apartment towers—The Ludlow and The Girard.
The East Market project is owned on behalf of a client by National Real Estate Advisors, LLC; Joss Realty Partners, a New York-based private real estate investment firm; Young Capital LLC, a Philadelphia-based real estate investment firm affiliated with Classic Management, Inc.
www.omegare.com
National Real Estate Development LLC reports that it will be adding a new 236-room Hilton-branded hotel to its East Market development in Center City here.
The Washington, DC-based firm, which is the development arm of National Real Estate Advisors, has announced the addition of Canopy Philadelphia Center City, which will be part of the Hilton portfolio. The hotel is scheduled to open in the spring of 2020 at 1180 Ludlow St.
Designed by BLT Architects and being developed as an adaptive reuse of the historic Stephen Girard Building, Canopy Philadelphia will feature a signature restaurant and bar program, which will include an American brasserie with French influence. Additionally, amenities and services will include the Canopy Bike Program, a complimentary evening tasting of wine, spirits and beer, and approximately 3,600 square feet of indoor and outdoor meeting space.
“Canopy is thrilled to be joining the East Market neighborhood in Center City Philadelphia,” says Gary Steffen, global head, Canopy by Hilton. “Our hotels are located in the most desirable neighborhoods across the globe, so when it came time to determine a location for our new property here in Philadelphia, the choice was easy. East Market has everything visitors look for, including immediate access to world class shopping, restaurants, popular tourist destinations and public transportation.”
Launched in 2014, there are currently 12 Canopy properties open around the globe and more than 40 under development across 13 countries and territories.
Bounded by Market, Chestnut, and 11th and 12th streets, the East Market project has transformed the city’s primary east-west corridor into a full block of stores, popular restaurants, creative office spaces, including Design Center Philadelphia, MOM’s Organic Market, Wawa, Iron Hill Brewery, City Fitness, District Taco and WeWork. The project also includes two brand new luxury apartment towers—The Ludlow and The Girard.
The East Market project is owned on behalf of a client by National Real Estate Advisors, LLC; Joss Realty Partners, a New York-based private real estate investment firm; Young Capital LLC, a Philadelphia-based real estate investment firm affiliated with Classic Management, Inc.
www.omegare.com
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