All three buildings in 33 Logistics Park, including a 1.0 million SF facility delivered this month, have been leased by e-commerce and logistics-focused companies.
The Pennsylvania office of Duke Realty Corporation (NYSE: DRE), the leading, domestic-focused industrial REIT (Real Estate Investment Trust) in the United States, announces that it has leased its third bulk warehouse in 33 Logistics Park, bringing the 2.7 million-square-foot industrial development in the Lehigh Valley to 100 percent occupancy. 33 Logistics Park is located on the east side of the Lehigh Valley just off Route 33 at the new four-way diamond interchange at Main Street in Easton, PA.
Duke Realty began development of 33 Logistics Park in 2014 with the purchase of a 63-acre site and construction of a 1,106,442-square-foot building which was leased immediately upon completion in early 2016. Duke Realty subsequently purchased 134 acres and began development of its second building a 628,475-square-foot building which was placed in service and leased in July 2017. 33 Logistics Park 1620, a 1,015,740-square-foot facility and Duke Realty’s last building in the industrial park, has been preleased by a leading logistics services provider shortly before delivering this month.
“33 Logistics Park’s desirable location and highway access have been attractive to all three companies that have signed leases for our facilities,” said Jeff Palmquist, Senior Vice President of Duke Realty’s Northeast Region. “From here our tenants have superior access to the highly populated New York City metropolitan area and can easily connect to I-78, I-81 and I-80, putting them within a day’s drive of more than 40 percent of the U.S. and Canadian populations.”
Brokers involved in the lease of 33 Logistics Park 1620 include tenant representative Jonathan Gelman with Gelcor Realty, while Duke Realty was represented by Matthew Bremner and Cait English along with its listing brokers Bill Wolf and Sean Bleiler with CBRE.
To complement 33 Logistics Park and meet ongoing demand for quality warehouse space in the market, Duke Realty currently has a spec industrial building under construction in Bethel Township in Berks County at the western edge of the Lehigh Valley. Central Logistics Park 53, an 832,000-square-foot facility, is located 10 miles east of the split between I-81 and I-78 and fronts I-78. A 36′ clear building, Central Logistics Park 53 includes 84 dock doors and two drive-in doors as well as 54′ x 50′ bay spacing. Outside of the building are 359 automobile parking spaces, 216 trailer stalls and a 190′ truck court. The building is slated for delivery in late July 2018.
Parties interest in leasing Central Logistics Park 53 are invited to contact Duke Realty’s Pennsylvania office at 484.533.6500.
About Duke Realty
In Pennsylvania, Duke Realty owns or has under construction 6.1 million square feet of industrial space. Its Pennsylvania office is located at 161 Washington Street, Suite 1020, Conshohocken, PA.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 149 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.