Wholesale tire distributor will use new Lehigh Valley facility at I-81/I-78 to serve regional distribution centers throughout the Northeast and Mid-Atlantic United States.
The Pennsylvania office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that progress on the 615,600-square-foot, build-to-suit warehouse for Max Finkelstein, Inc., one of the nation’s largest independent, family-owned wholesale distributors of passenger and light truck tires, is on schedule with delivery expected in the spring of 2020. The building is being constructed on part of a 132-acre parcel less than 10 miles east of the split between I-81 and I-78 in Berks County, PA, at the western edge of the Lehigh Valley submarket.
“Max Finkelstein has been in business for more than 100 years and has operations throughout the Northeast and Mid-Atlantic States. We are excited to deliver a new, custom-designed, state-of-the-art facility that will be a core component in their supply chain,” said Art Makris, Senior Vice President for Duke Realty in the Northeast region of the United States. “This new facility incorporates modern features, including increased clear heights, enhanced lighting and a state-of-the-art fire protection system, which will provide them with enhanced storage and warehouse capabilities, along with a safe operating environment.”
“Designing a state-of-the-art, purpose-built warehouse to serve as the hub of our distribution center network, meeting all of our specific requirements, is critical to our growth.” said Sean Franciscus, Chief Operating Officer with Max Finkelstein. “We selected Duke Realty due to their ability to deliver a facility with all of the features we need and in the ideal location for efficiently serving our 16 regional distributions centers via its proximity to I-81, I-78 and I-83. The site was pad-ready which expedited the building’s delivery. We are extremely pleased with the results and our partnership with Duke Realty.”
The new building, which will be known as Central Logistics Park 100, is located at 100 Fort Motel Drive in Myerstown. Max Finkelstein’s new building includes 7,000 square feet of office space and incorporates 45′ clear height and LED lighting. The remaining acreage on the site can accommodate additional development of up to 584,820 square feet.
Vincent Ranalli with CBRE represented Max Finkelstein, Inc. in the transaction while Duke Realty was represented by listing broker Adam Campbell with Cushman and Wakefield and Scott Henderson and Caitlin English.
Parties interested in leasing or development opportunities in Central Logistics Park are invited to contact Scott Henderson, Duke Realty’s VP of Leasing and Development in Pennsylvania, at 484.533.2655.
About Duke Realty
In the Northeast Region states of Pennsylvania and New Jersey, Duke Realty owns, manages or has under development nearly 13.9 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s Pennsylvania office is located at 161 Washington Street, Suite 1020, Conshohocken, PA. The phone number is 484.533.6500.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 156 million rentable square feet of logistics assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is a member of 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.