Trammell Crow to Develop PA Industrial Facility
The development firm is set to build a speculative distribution center in the Valley View Business Park near Scranton. The project will be situated in an Opportunity Zone.
By Holly Dutton
Valley View Trade Center
Trammell Crow Co. (TCC) will develop a 1 million-square-foot speculative distribution facility in Jessup, Pa. The seller was the Scranton Lackawanna Industrial Building Company, an affiliate of the Greater Scranton Chamber of Commerce.
Valley View Trade Center is slated for completion in the third quarter of 2019 and is expected to feature 40-foot clear height, 190-foot deep truck court with opposing trailer storage, ESFR fire protection, 311 trailer parking spaces, 277 car parking space and 159 dock positions that can expand to 209.
The building will be situated within the Valley View Business Park, a 20-minute drive from downtown Scranton. The location provides convenient access to Route 6 and Interstate 84. The project will provide economic and tax incentives, qualifying as a Keystone Opportunity Expansion Zone and for the Local Economic Revitalization Tax Assistance program. In addition, the project will serve as a Qualified Opportunity Zone.
“We are very pleased that a renowned developer like Trammell Crow Company has chosen to invest in our region—with our quality workforce, prime location and access to major markets—to create jobs and address the demands of the growing e-commerce industry,” Bob Durkin, president of the Greater Scranton Chamber of Commerce, said in prepared remarks.
Last month, in a public-private partnership, TCC kicked off construction on a $453 million mixed-use project in Los Angeles called Vermont Corridor.
Image courtesy of Trammell Crow Co.
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