The Largest industrial lease of 2017
Lebanon Valley Distribution Center Fredericksburg, PA
Size: 1,080,126 SF Brokers: W. Jason Webb, and Maria Ratzlaff JLL brokered a full-building, long-term lease on behalf of ownership, USAA and Trammell Crow Company, with Ace Hardware. The building located in Fredericksburg, PA in the Central PA submarket consists of 874,126 SF and was completed in 2016. A 206,000 SF expansion of the building is close to completion. Ace Hardware will fully occupy both the original building and the expansion during the 1st quarter of 2018. The building features state-of-the-art design specifications and is located approximately five miles from the convergence of I-81 and I-78.
Prism Capital Partners, LLC ON3 Nutley, NJ
Size: 73,000 SF Brokers: Cushman & Wakefield: William Hartman, Curtis Foster, Jerry Shifrin Biofabrication company Modern Meadow relocated from Brooklyn to a state-of-the-art laboratory and pilot manufacturing site at Prism Capital Partners’ ON3. Modern Meadow –founded in 2011 with a mission to re-imagine animal materials, such as leather, by applying design and engineering to biology – received a $32 million Grow NJ grant. With master planning well underway at ON3, the redevelopment of a 116-acre former Hoffmann-La Roche campus, is positioned to set a benchmark in Walking Urbanism – with a world-class, mixed-use setting integrating office and R&D facilities, recreational, hospitality and wellness options, and other uses that comprise a 24/7 environment.
Lee & Associates, LLC - NJ 1611 Van Buren Rd. Eastern, PA
Size: 628,475 SF Broker: Dave Saltzman Dave Saltzman’s customer, XPO Supply Chain Logistics, had outgrown their existing space in the Lehigh Valley but wanted to remain in the market to effectively service their client throughout the Northeast. Dave, along with Brian Knowles & his team at Lee & Associates of Eastern Pennsylvania, worked together to identify the best options for his client. They agreed that Duke Realty’s 33 Logistics Center, located at 1611 Van Buren Rd, was the ideal building for them because it gave them the additional space they needed, and is located down the street from thier existing facility. This allowed them to remain in the same area that is strategic to their operations, as well as keep their current labor force.