Dermody Properties, a national industrial development and operating company headquartered in Reno, Nev., and PCCP, an integrated real estate finance and investment management firm, recently broke ground on a 475,800-square-foot industrial facility at 4200 E. Braden Blvd. in Forks Township, Pennsylvania.
The facility, known as LogistiCenter at 33, is centrally located in the heart of the Lehigh Valley near such corporate neighbors as Weyerhaeuser, Crayola, Victaulic and Mondelez, and is within minutes of Interstate 78 and Route 33 via the new Main Street interchange just west of the site.
Dermody Properties and PCCP broke ground at the site on October 29, and expect construction to be complete in mid-2016. Upon completion, LogistiCenter at 33 will feature 36 feet of clear height, 226 car parking spaces and 85 trailer parking spaces. R. S. Mowery & Sons, Inc. is the general contractor for the project, and the firm of Randall Paulson is serving as the project architect. The building is scheduled to be completed and ready for occupancy by summer 2016.
“LogistiCenter at 33 will be our fourth development in the Lehigh Valley,” said Gene Preston, Partner, Dermody Properties East Region Office. “The addition of the new Route 33/Main Street interchange made this particular site an ideal location for warehouse, manufacturing and distribution operations. We are excited to be breaking ground on another project in the Lehigh Valley.”
Dermody Properties is the industrial developer and operating partner, and PCCP is the financial partner on the project.
“PCCP sees this as a compelling opportunity to develop a Class A industrial facility with Dermody Properties, a best-in-class developer,” said John Randall, Managing Director with PCCP. “Additionally, the local industrial market incorporates all of the key fundamentals that promise to attract large user interest. Our goal is to pre-lease the property prior to completion of construction.”
“We are pleased to continue our growth in this important logistics market and to expand our relationship with PCCP,” said Douglas A. Kiersey, Jr., President, Dermody Properties. “We believe LogistiCenter at 33 will attract a high-quality logistics customer similar to those in our existing facilities throughout Pennsylvania.”