CBRE Group, Inc. (CBRE) announced today that it has negotiated a long-term lease on behalf of Ace Hardware at the Lebanon Valley Distribution Center located at 139 Fredericksburg Road in Fredericksburg, Lebanon County, Pennsylvania. The lease transaction involves a new 1,080,421 square-foot cross-dock, 36’ clear distribution facility. The existing 874,126 square-foot facility is to be expanded by 225,875 square feet and delivered to Ace Hardware for occupancy by year end 2017.

CBRE’s Joseph McDermott, Jake Terkanian, Vincent Ranalli and David Lind represented Ace Hardware during the negotiations. The property is owned by USAA Real Estate Co. and is being developed by the Trammell Crow Company.

McDermott indicated that the CBRE team worked with the Ace Hardware executives to locate a suitable Class A consolidation facility to serve the Ace Hardware stores located throughout the Northeast and Mid-Atlantic US. The Lebanon Valley Distribution Center property was chosen over several other options because of its site and building design, expansion capability, and access to I-78 and I-81.

CBRE provided Transaction Management, Labor Analytics and assistance in securing LERTA tax benefits. The CBRE Project Management team has been hired to oversee the construction of the building expansion.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.