Cushman & Wakefield National Industrial
9500 W. Bryn Mawr Avenue
Rosemont, IL 60018
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Release Date: Wednesday, February 18, 2015
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Cushman & Wakefield is Exclusive Leasing Agent for Class A Industrial Park
CARLISLE, P.A., Feb. 18, 2015 – Prologis, the global leader in industrial logistics real estate, has begun construction on a state-of-the-art distribution facility at its Prologis Carlisle site. Cushman & Wakefield is exclusive leasing agent for the Class A industrial park, which is situated on 105.1 acres off Allen Road at Exit 44 on Interstate 81, with proximity to an expansive highway network.
Stephen A. Cooper, senior director, brokerage services with the commercial real estate services firm's Conshohocken office, will head up the leasing assignment.
The 1,029,600-square-foot building represents the first large industrial construction project in the Central Pennsylvania area since the economic downturn. It also is Prologis' first speculative development since 2007 in a market where it has long had a significant presence. The property includes an additional build-to-suit site fully approved for 398,840 square feet.
The new facility, which will be available for occupancy in August 2015, is designed for bulk distribution and e-commerce fulfillment. The divisible building features 36-foot ceiling heights, another "first" for the area, as well as 7" concrete floors to provide tenants with greater efficiency and increased cubic capacity for racking and stacking. Early suppression, fast response (ESFR) sprinkler systems offer enhanced fire protection.
"Given the healthy industrial tenant activity in this market generated by a range of use categories, we expect to see strong interest from consumer products and food distribution companies as well as e-commerce-fulfillment providers looking to establish or expand their presence here," said Cooper.
Prologis specializes in owning and operating world-class logistics and distribution facilities near vital transportation infrastructure. According to Cushman & Wakefield's new Industrial Forecast for North America, increasing service expectations (i.e. same-day delivery), elevated transportation costs and the need to access labor are fueling e-commerce distribution projects in and around major population centers like the PA I-81/ I-78 Corridor. "A driver can service one-third of the U.S. population and forty percent of Canadian consumers within a day's commute," added Cooper.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In the U.S. alone in 2013, this group completed nearly 6,700 industrial real estate transactions (excluding Capital Markets transactions) totaling 238.74 million square feet. The aggregate value of these transactions was greater than $7.34 billion.