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California developer buys Schuylkill logistic center for $25.7M
Stacy Wescoe//July 28, 2021//
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A Schuylkill County logistics center has just been sold for $25.7 million.
CBRE reports that it arranged the sale of the nearly 2.4 million-square-foot Rausch Creek Logistics Center in Valley View to California-based Panattoni Development Co.
CBRE represented the seller, Tremont FT LLC, which is an affiliate of Viridian Partners.
“Located in the heart of Pennsylvania’s I-78/I-81 Industrial Corridor, Rausch Creek Logistics Center will offer tenants superb access to major industrial markets in the Northeast,” said Michael Hess, an agent with CBRE involved in the sale. “Panattoni Development specializes in build-to-suit and speculative industrial development. With limited inventory in Central Pennsylvania and the Lehigh Valley, and with a 75% LERTA tax abatement available, this state-of-the-art industrial park will attract an array of prominent industrial users.”
The logistics center sits immediately off of Exit 107 of I-81, and just 18 miles from I-78.
It will consist of Building 1, which will be 1,346,755 square feet.
Speculative construction is expected to begin soon with delivery in the third quarter of 2022.
Building 2, which is 1,040,540 square feet, will be pad ready to begin speculative construction in early 2022.
