JV Buys Land for PA Industrial Spec Project
The project—dubbed PARK 309—will encompass 260,000 square feet of warehouse/industrial space, across two separate buildings. Completion is slated for the end of 2018.
By Beata Lorincz
PARK 309
A partnership of MRP Industrial and Cabot Properties has purchased a 23-acre site in Quakertown, Pa., for the development of a two-building speculative industrial project. Named PARK 309, the 260,000-square-foot property is planned to break ground this summer and is slated for completion in late 2018.
The site is located adjacent to Route 309 and provides easy access to interstates 78 and 476. Philadelphia is situated roughly 30 miles of the parcel, while New York City is 95 miles away. The single-story Building I will comprise 114,400 square feet, while Building II will feature 145,800 square feet. Both constructions will include:
- 32-foot clear ceiling heights
- two drive-in doors
- 135- to 185-foot truck courts
- the option to integrate significant commercial office space
Principal Brian Knowles and Senior Associate Andrew Komisor of Lee & Associates of Eastern Pennsylvania brokered the sale. The company will also handle the leasing process.
“Our team designed two highly flexible buildings that can satisfy the specific real estate needs of a wide range of end-users including companies involved with logistics, manufacturing operations and warehousing,” said Lisa Goodwin, senior vice president of MRP Industrial. “The Lehigh Valley Region, in particular, remains extremely vibrant given its strategic positioning within one day’s drive to one-third of all consumers residing in the United States.”
Last December, MRP Industrial broke ground on Hamburg Logistic Park, a three-building, 165-acre industrial project in the Philadelphia region. The property will encompass 1.9 million square feet.
Images courtesy of MRP Industrial
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