Dermody Properties and PCCP Announce Plans for 475,800 SF Development in the Lehigh Valley
Dermody Properties and PCCP, an integrated real estate finance and investment management firm, recently announced plans to develop a 475,800-square-foot industrial facility at 4200 E. Braden Blvd. in Forks Township, Pennsylvania.
Dermody Properties will start construction on the facility, known as LogistiCenterSM at 33, in the fourth quarter of 2015 and expects to complete construction in mid-2016. Upon completion, LogistiCenterSM at 33 will feature 36 feet of clear height, 226 car parking spaces and 85 trailer parking spaces.
“The Lehigh Valley is a highly desirable industrial market,” said Gene Preston, Partner, Dermody Properties East Region Office. “We look forward to expanding our presence there with the addition of a state-of-the-art industrial facility at the site in Forks Township.”
LogistiCenterSM at 33 is ideally suited for warehouse, distribution and manufacturing operations. The facility 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 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.”
“Dermody Properties has been developing facilities for lease and build-to-suit in the Pennsylvania markets for many years,” said Douglas A. Kiersey, Jr., President, Dermody Properties. “We are pleased to expand our investment in this market, and specifically in the Lehigh Valley, with the addition of LogistiCenterSM at 33 to our portfolio.”