First Industrial Realty Trust launches development of 584,760 s/f industrial facility
LEHIGH VALLEY, PA — First Industrial Realty Trust, Inc., an owner, operator and developer of industrial real estate, recently launched its First 33 Commerce Center, a two-building 584,760 s/f development in the Lehigh Valley in Eastern Pennsylvania.
The state-of-the-art development will be comprised of a 341,400 s/f facility and a 243,360 s/f building. Both buildings will feature 32-ft clear height, ESFR sprinklers and interior and exterior energy-efficient lighting systems. The buildings are expected to be completed by year-end 2015. Total investment for the project is expected to be approximately $44 million.
Located directly off Rte. 33 in Northampton County, First 33 Commerce Center offers efficient access to I-78 and I-80, and access to one-third of the U.S. population and one-half of the Canadian population within a one day’s drive. First 33 Commerce Center is a proven location as evidenced by its corporate neighbors, including major freight delivery companies that can provide one and two day delivery options to the majority of the United Stated and Canada. Both buildings are divisible to meet the needs of multiple tenants, with the larger building divisible to 100,000 s/f and the second building divisible to 54,000 s/f.
“The Lehigh Valley continues to grow in importance as a distribution hub for the Northeastern U.S. due to its efficient highway networks and talented labor force,” said Peter Schultz, executive vice president for First Industrial. “With limited availability of high quality distribution product in the market, we are excited to develop these facilities which can meet the needs of a range of distribution and other customers.”
Jeff Thomas, senior regional director and market leader for Pennsylvania, and Jim Knopka, senior director of construction, lead First Industrial’s team for the development of First 33 Commerce Center.
Mark Chubb, senior vice president/principal, Michael Zerbe, senior vice president/principal, and Mike Capobianco, senior vice president, all of Colliers International, will work with First Industrial on leasing First 33 Commerce Center.