Dermody Properties Buys 89 Acres in Berks Park 78
Dermody Properties and the Berks County Industrial Development Authority (BCIDA) announced that Dermody Properties has purchased 89.22 acres in Berks Park 78 in Bethel Township, Penn. Dermody Properties has indicated that the site is suitable for a build-to-suit or for development of a speculative building for industrial lease, both options that will complement the park’s existing facilities.
“With this project in particular, our plan is to offer a client superior solutions for distribution and warehousing operations,” said Gene Preston, partner, Dermody Properties East Region Office, which handled the transaction for the nationwide company. “Berks Park is the ideal place for us to develop an industrial building that will meet the needs of companies who want to reach the Northeastern population effectively and efficiently.”
Berks Park 78 is a 323-acre industrial complex located directly off Interstate 78. The complex is planned for a total build-out of 3.1 MSF. It offers close proximity to the Northeastern US population and an excellent labor supply for distribution and warehouse operations. Dollar General and PetSmart both have industrial facilities under construction in Berks Park 78.
“Our strategy of preparing shovel-ready sites has really paid off. We’re thrilled that in less than a year we’re able to announce another sale,” said Tom McKeon, BCIDA Executive Director. “This time it’s to an extraordinarily talented North American development firm who is as excited as we are about the logistics, labor and site advantages offered by Berks Park 78.”
“With the right sites and the right partners, we will be able to continue to strategically develop and lease state-of-the-art industrial facilities in highly desirable markets, like the greater Philadelphia area,” said Douglas A Kiersey, Jr., president of Dermody Properties. “This location will be prime for a build-to-suit, or for Dermody Properties to develop on a speculative basis, depending on the environment at the time.”
Preston and James Mascaro of Dermody Properties’ East Region Office were the Dermody Properties team that managed the transaction. Jeffrey L. Williams, of Cushman & Wakefield of Pennsylvania, brokered the transaction on behalf of Berks County Industrial Development Authority.