The second quarter of 2021 saw some of the highest levels of industrial investment ever recorded in the North Atlantic trade corridor, according to CoStar data. Investors spent over half a billion dollars acquiring warehouses and distribution centers across the seven markets that orbit Philadelphia. This figure compares favorably to what these same markets saw… Read more »
A recently built 1.03 million-square-foot distribution center in Pennsylvania’s Lehigh Valley has sold for $201.5 million, ranking it as the priciest single-property industrial deal for the market, according to CoStar data. The industrial facility is located within the master-planned Rockefeller Group Logistics Park at 951 Willowbrook Road in Northampton, a borough about 6 miles north… Read more »
An Illinois owner of industrial real estate has entered the Lehigh Valley market with a $201.5 million purchase of 951 Willowbrook Road, a 1.03-million-square-foot warehouse-distribution center in Northampton. CenterPoint Properties has been expanding its core presence in the Northern New Jersey and New York industrial market and the Lehigh Valley has been a target market…. Read more »
One of the largest clothing companies on the planet is coming to the Lehigh Valley. Nike has leased over 1 million square feet at 3633 Commerce Center Blvd. in the Majestic Bethlehem Center, an industrial park that was developed on top of an old Bethlehem Steel plant in Bethlehem, Pennsylvania. The campus has become one of Lehigh’s… Read more »
The Lehigh Valley, Pennsylvania, logistics sector has been successful for so long that it almost feels immune to risk. But things are starting to look interesting one quarter into the year. CoStar data shows industrial demand within Lehigh Valley cooled off somewhat in 2020. The market’s vacancies climbed by roughly 2% during the turbulent year, and… Read more »
Market Posted Year-Over-Year Rent Growth of Nearly 5.5% Last Year The Lehigh Valley, Pennsylvania, industrial market took everything COVID-19 dished out without missing a beat. And it appears ready for whatever 2021 may throw its way. Lehigh Valley’s unique location and proximity to every major city along the northeastern shore meant at the start of the shutdown,… Read more »
Region Experiences Surge in New Logistics Hubs Link Logistics Real Estate is teaming up with Bridge Development Partners to create a 480,000-square-foot industrial campus on a 60-acre site in the Lehigh Valley in Pennsylvania, a hot spot for such projects. Bridge, headquartered in Chicago, assigned the contract for the vacant site at 428 E. Moorestown Road… Read more »
Forward Air Corp. has leased 37,717 square feet in Bethlehem as part of a bigger push into the Lehigh Valley and key Pennsylvania industrial market. The building at 2675 Commerce Center Blvd. is owned by J.G. Petrucci Co. For the past 11 years, Forward (NASDAQ: FWRD) outsourced its logistics operations to a third party in… Read more »
ShipHero has subleased a warehouse facility at 6736 Tilghman St. in Allentown, Pennsylvania. The U.S. multinational e-commerce logistics company is taking the entire 150,0000-square-foot industrial building called Iron Run Distribution Center II. ShipHero will use the Lehigh Valley warehouse as a fulfillment center. It will be the company’s ninth location in the country. The 150,000-square-foot building was… Read more »
The coronavirus caused some minor disruption to Pennsylvania’s Lehigh Valley logistics market through the second quarter, but fallout from the pandemic was largely limited to investment activity. Roughly 60 deals closed through 2020’s tumultuous first two quarters, but only a handful finalized from April through June. With one exception, these were small properties trading between local buyers…. Read more »
