REIT Taps Cushman & Wakefield for 708K SF Spec Industrial in York, PA
Photo Courtesy of LoopNet
Cushman & Wakefield, Inc. has been tapped to market First Logistics Center @ I-83, a 708,000-square-foot speculative industrial facility set for construction at 20 Leo Lane in York, PA.
The developer of the $34 million project, First Industrial Realty Trust, has awarded the leasing assignment to the Cushman & Wakefield of Pennsylvania, Inc. team of Patrick McBride, Gerry Blinebury, Jr., Adam Campbell and Leah Balerno.
Available for occupancy in the summer of 2013, First Logistics Center @ I-83 is situated at Exit 24 of I-83 in southeastern Pennsylvania. The location provides highway access to Interstates 81, 76, 78, 70 and 95, and is within minutes of FedEx and UPS hubs.
The cross-docked distribution building will feature 32-foot ceiling heights, parking for 233 automobiles and 194 trailers, and signage opportunities with visibility from I-83.
“Pennsylvania’s I-81 and I-78 Distribution Corridor has clearly emerged as a national leader in new industrial construction,” said Blinebury. “The market currently has 12 big-box projects, a mix of spec and build to suit, under way or ready to launch, with nine of those projects topping 700,000 square feet. The market’s vacancy of 9.5 percent is down 2.2 percentage points over a year ago, and vacancies for big-box space are considerably lower than that."