Real Estate Weekly
Image default
Deals & Dealmakers

West Coasters pay $26M for 2M s/f PA logistics site

CBRE announced today that it has arranged the sale of Rausch Creek Logistics Center—a proposed two-building logistics park totaling approximately 2,387,295 s/f of industrial space in Valley View, Pennsylvania.

Irvine, California-based Panattoni Development Company acquired the property for $25.75 million.

A CBRE team comprised of Michael Hess, Bart Anderson and Patrick Lafferty represented the seller, Tremont FT, LLC, an affiliate of Viridian Partners, during the marketing and sales negotiations.

“Located in the heart of Pennsylvania’s I-78/I-81 Industrial Corridor, Rausch Creek Logistics Center will offer tenants superb access to major industrial markets in the Northeast,” said Hess. “Panattoni Development specializes in build-to-suit and speculative industrial development. With limited inventory in Central Pennsylvania and the Lehigh Valley, and with a 75% LERTA tax abatement available, this state-of-the-art industrial park will attract an array of prominent industrial users.”

Building 1, which will total 1,346,755 s/f, is expected to start speculative construction to deliver in Q3 2022, while Building 2, comprised of 1,040,540 s/f, will be pad ready to begin speculative construction in early 2022. The industrial park will offer tenants over 550 trailer parking spaces.

Located at 978 Gap Street in Valley View, Schuylkill County, Pennsylvania, Rausch Creek Logistics Center sits immediately off of Exit 107 of Interstate 81, and just 18 miles from Interstate 78.

(Visited 1 times, 1 visits today)

Related posts

Ivy Realty, Waterfall sell another slice of NJ tech campus

REW

C&W moves Long Island team to next gen’ digs

REW

Real estate industry most tolerant of drunk or high employees, survey reveals

REW