92-acre infill site will become Park 100 Logistics Center
Responding to continuing strong demand for Class A bulk warehouse space in the Lehigh Valley industrial market, Ridgeline Property Group (RPG) will redevelop the former Kraft facility site at 7352 Industrial Boulevard into a Class A, rail-accessible logistics campus. RPG has acquired the 92-acre site, a preeminent location in Lehigh Valley, and will build two Class A distribution facilities totaling up to 1.46 million square feet.
The project, known as Park 100 Logistics Center, will be built on the 92-acre site approximately one mile from the Route 100/I-78 Interchange.
Demolition of the Kraft facility has commenced. The initial phase of Park 100 Logistics Center, a 730,080-square-foot Class A distribution facility, is anticipated to be completed in Q1 2018. Jake Terkanian, Joe McDermott and Vincent Ranalli of CBRE’s Philadelphia office have been selected to market the property for lease or build-to-suit.
“We are excited to continue to expand the RPG platform nationally, and particularly in Central Pennsylvania and Lehigh Valley,” said Greg Thurman, RPG’s CEO. “This represents a tremendous opportunity for us to develop this prime infill site and create a state-of-the-art logistics campus benefitting from a strategic location with excellent highway and rail access.”
Chris Ciliberti, Partner and head of RPG’s Northeast operations, added: “With historic levels of absorption combined with limited competitive supply, Park 100 Logistics Center is well positioned to capitalize on strong market fundamentals in Lehigh Valley.”
Park 100 Logistics Center’s location approximately one mile from the Route 100/I-78 interchange provides immediate access to strategic transportation routes serving the Northeast region. Additionally, the large and well-trained workforce within a 30-minute commute creates a strong incentive for companies to operate in this location. The overall vacancy rate for Class A product in Lehigh Valley is just below 4 percent, placing supply at shortage levels, while absorption has remained at historically high levels.
Park 100 Logistics Center, a rail-accessible, 1.46 million-square-foot, two-building logistics campus, will feature 36-foot clear heights, a cross-docked loading configuration, 4 drive-in doors per building, highly efficient 56-foot by 50-foot column spacing, 70-foot speed bays, early suppression fast response (ESFR) fire sprinklers, and ample parking with 982 auto parking spaces and 376 trailer storage stalls.
About Ridgeline Property Group
Ridgeline Property Group is a commercial real estate development and investment company operating throughout the United States. Headquartered in Atlanta, the firm has a particular focus on the acquisition, development and management of high-quality industrial and office properties in strategic markets. RPG’s regional partners have more than 125 years of combined experience in the commercial real estate industry and have developed in excess of 115 million square feet of space in more than 30 states. For additional information, please visit www.ridgelinepg.com.
