fbpx

Iron Mountain, CONRI sign leases at Bushkill Township LogistiCenter

LogistiCenter at Lehigh Valley East Building 1 is now fully leased. PHOTO/DERMODY PROPERTIES –

Dermody Properties, a national private equity real estate investment, development and management company focused on the logistics real estate sector, has announced the lease of LogistiCenter at Lehigh Valley East Building 1 in Bushkill Township to Iron Mountain and CONRI Services Inc.  The property is located at located at 450 E. Moorestown Rd. 

Iron Mountain is a provider of storage, data center infrastructure, asset lifecycle management and information management services.  

This location expands its consumer storage division, as well as corporate data and physical storage.  

CONRI Services Inc. offers warehousing and fulfillment services to a variety of customers, including publishing, home decor, gifts and tea.  

The company is expanding its existing footprint in New York and New Jersey to accommodate both existing and new customers and will lease the remaining 116,640 square feet of the state-of-the-art space. 

“We are pleased to welcome Iron Mountain and CONRI Services, Inc. to LogistiCenter at Lehigh Valley East,” said Rob Borny, east region partner at Dermody Properties. “With the addition of both of these great companies to our project, LogistiCenter at Lehigh Valley East is fully leased.  These companies join a collection of large e-commerce, distribution, warehouse and light manufacturing companies in Eastern Pennsylvania.” 

Brian Knowles and Eric Zahniser of Lee & Associates represented Dermody Properties in the lease transactions. Ed Soriano and Larry Maister of JLL represented Iron Mountain and Jeff Lockard of JLL represented CONRI Services, Inc. LogistiCenter at Lehigh Valley East Building 2, at 460 E. Moorestown Rd., was leased to Mainfreight Inc. earlier this year.   

 

Packaging manufacturer opening facility in Bethel Township

The LogistiCenter at Midway South PHOTO/SUBMITTED

 

Chicago-based Pregis is opening a new manufacturing facility in Bethel Township.

The packaging manufacturer said it expects to create approximately 80 jobs when the facility opens in April.

The plant will be producing lightweight, recyclable all-paper cushioned mailers to support demand in the Northeastern region of North America.

“E-commerce is continuing to grow exponentially. Brand owners and retailers are looking for sustainable alternatives to ship their products through the parcel network direct to consumers. Pregis’ investment in this new manufacturing facility is yet another commitment to our robust e-commerce offering and our dedication to sustainable protective packaging options,” said Kevin Baudhuin, president and CEO of Pregis.

Pregis said it acquired the technology to manufacture the eco-mailer shipping solution in October 2020 with the goal to scale the production of the curbside recyclable product to meet consumer demand.

The new facility in Bethel Township will be in addition to the eco-mailers produced at a facility in Elk Grove Village, Illinois.

The company said it plans to expand with two additional sites to serve strategic geographic markets during 2021. It expects to create approximately 450 new jobs.

Dermody Properties leased the 304,000-square-foot building in its LogistiCenter at Midway South to Pregis.

The facility is located at 9024 Old Route 22 in Bethel Township.

Dermody completes latest LogistiCenter project in Bushkill

LogistiCenter at Lehigh Valley East is now complete in Bushkill, Northampton County. PHOTO/SUBMITTED –

 

With the completion of two logistics buildings, the LogistiCenter at Lehigh Valley East is complete. The structures are the latest of a number of logistics buildings built in the region by Nevada-based developer, Dermondy Properties.

The two buildings at 450-460 Moorestown Road in Bushkill, Northampton County, total 557,820 square feet.

Building one has 349,920 square feet of available space and offers a 36-foot clear height, 62 trailer spaces, one drive-in door, 197 car parking spaces and 1,750 square feet of office space.

Building two has 207,900 square feet of available space and offers a 36-foot clear height, 39 trailer spaces, one drive-in door, 128 car parking spaces and 1,050 square feet of office space.

Both are now available for lease.

“Eastern Pennsylvania is a key logistics market for Dermody Properties,” said Timothy Walsh, partner and chief investment officer at Dermody Properties. “Completion of LogistiCenter at Lehigh Valley East means another strategic opportunity for our customers in a high-demand area of the country.”

In December, Dermody announced the completion of LogistiCenter at Midway South, a 304,000-square-foot logistics facility at 9024 Old Route 22 in Bethel Township, Berks County.

In June, it sold its LogistiCenter at 33 in Forks Township for $62.5 million to Black Creek Capital, a Denver, Colorado-based real estate investment management firm.

 

Northampton County warehouse sells for $62.5M

LogistiCenter at 33 in Forks Township has been sold for $62.5 million. PHOTO/SUBMITTED –

 

LogistiCenter at 33 in Forks Township has been sold for $62.5 million.

The 475,800-square-foot ecommerce facility at 4200 E. Braden Blvd. was developed by Dermody Properties of Nevada.

The buyer was Black Creek Capital, a Denver, Colorado-based real estate investment management firm.

The logistics center was constructed in 2016 soon after the opening of the Charles Chrin Route 33 interchange in nearby Palmer Township.

It was one of the first major commercial developments lured by the access the interchange created. It’s nearby some of the Lehigh Valley’s major manufacturers including Victaulic, Follett Corp. and Crayola.

It was one of several site development projects in the Lehigh Valley and Berks County that Dermody has created including the LogistiCenter at Midway South, which opened in December.

Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE National Partners headed the marketing campaign and negotiated the sale on behalf of the seller, a partnership which included PCCP, LLC.

Hines said the regional market for such properties is very strong right now.

“The I-78/I-81 industrial corridor, and specifically the Lehigh Valley, continues to demonstrate all of the fundamental requirements to make it a primary logistics destination for global tenancy and institutional capital alike,” Hines said in a release. “A sustained, landlord-friendly supply and demand imbalance, surging replacement costs and protracted approval and entitlement process create the idyllic formula sought by savvy logistics investors who, as demonstrated by this transaction, are seeking both long-term projectable income and growth.”

The sole tenant of the property is Radial Inc., a third party logistics provider with 19 fulfillment centers across the country.

Hines said the company had been attracted to the site for its ease of access, proximity to major cities like New York and Philadelphia and the strong local labor pool.

Dermody Properties finishes construction on Berks industrial property off I-78

Dermody Properties completed the construction of LogistiCenter at Midway South, a new industrial property off Interstate 78 in Bethel Township, Berks County. – (Submitted)

Nevada-based Dermody Properties said it completed the construction of LogistiCenter at Midway South. The 304,000 square foot logistics facility occupies more than 29 acres at 9024 Old Route 22 in Bethel Township. Construction began in August.

The facility at Interstate-78 exits 15 and 16 has connections to I-81, I-476 and I-76.

Dermody Properties is a national private equity real estate investment, development and management company that has developed several projects in the Lehigh Valley, including one in Forks Township and two buildings under construction in Bushkill Township, said Gene Preston, partner of Dermody Properties.

“We are always looking for further opportunities in the valley, both to develop and/or acquire,” Preston said.

The Bethel Township building has a 36-foot clear height, 44 fully equipped dock high doors, 151 car parking stalls, 45 trailer stalls that can expand to 89, insulated tilt-up concrete panels and LED lighting fixtures.

“What we really liked about what we were able to design is the trailer spots,” Preston said. “We’ve gone ahead and installed all the dock doors, but we have the ability to expand. Two spots for every dock door is a really good ratio in the marketplace. We can accommodate a single tenant or multiple tenants.”

The Cushman & Wakefield leasing agents for the property are Gerry Blinebury, executive managing director, Adam Campbell, executive managing director, and Jeff Williams, senior director.

Blue Rock Construction of Upper Macungie Township is the general contractor that built the facility.

John Herman, the former owner, led the entitlements effort and Dermody Properties closed on the property when that process was completed, Preston said.

The property is valued at $946,141 according to Berks County assessment records.

 

 

[class^="wpforms-"]
[class^="wpforms-"]