Elizabethtown, PA — In a transaction arranged by CBRE and Cabot Properties, Inc. has acquired a two-property logistics complex at 1405 & 1473 Zeager Rd. in Elizabethtown, PA. Novaya Foxfield Industrial, in conjunction with Drake Real Estate Partners, developed and sold the two properties, totaling 198,721 s/f.
The CBRE National Partners’ team comprised of Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki spearheaded the marketing of the buildings and negotiated the sale on behalf of Foxfield Industrial.
Positioned within the roughly three million s/f Conewago Industrial Park, 1473 Zeager (127,121 s/f) and 1473 Zeager (71,550 s/f) were ground-up developments completed in 2019. The buildings are currently 100% leased by Bel-Aqua Pool Supply Co. and Packaging Corporation of America. The Elizabethtown location’s strong leasing fundamentals, excellent labor force, and proximity to major logistics infrastructure have attracted both institutional investors and a deep roster of regional and global tenancy.
Designed to class A standards, the Zeager Rd. assets feature concrete construction, 32’ clear height, and favorable loading ratios to facilitate high-throughput volume.
“Clearly developers and investors are focused on the efficiencies of these labor-rich concentrations that tie directly into critical hubs like the FedEx Ground/Freight Hub in Middletown, Pennsylvania,” said Ruppel. “The Novaya Foxfield Industrial team identified a uniquely infill opportunity and executed seamlessly in bringing the project to life.”