{"id":1004108302,"date":"2014-11-25T07:57:15","date_gmt":"2014-11-25T15:57:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004108302"},"modified":"2022-12-08T20:06:41","modified_gmt":"2022-12-09T04:06:41","slug":"hillwood-acquires-site-for-1-2-msf-industrial-project-in-central-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hillwood-acquires-site-for-1-2-msf-industrial-project-in-central-pennsylvania\/","title":{"rendered":"Hillwood Acquires Site for 1.2 MSF Industrial Project in Central PA"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Edito<\/em>r<\/p>\n<p>There\u2019s something missing in the industrial real estate offerings in Central Pennsylvania, and Hillwood Investment Properties is planning to do something about it. The developer has completed the acquisition of a 95-acre tract in East Manchester Township in York County, Pa., where it will develop Trade Center-83, a 1.2 million-square-foot industrial facility.<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004108304\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hillwood-acquires-site-for-1-2-msf-industrial-project-in-central-pennsylvania\/hillwood_trade-center-83\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg\" data-orig-size=\"786,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Hillwood_Trade Center-83\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg?w=786\" class=\"alignright size-medium wp-image-1004108304\" alt=\"Hillwood_Trade Center-83\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg\" width=\"300\" height=\"203\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg 786w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg?resize=300,203 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Hillwood_Trade-Center-83.jpg?resize=768,521 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>The timing for a spec building like Trade Center-83 (pictured in rendering) appears to be just right. \u201cDemand is being driven by very low vacancy of bulk Class A industrial, access to a solid labor pool, the growth of direct to consumer e-commerce fulfillment centers, as well as continued improvement in the national economy,\u201d Gary Frederick, senior vice president with Hillwood, told <i>Commercial Property Executive<\/i>.<\/p>\n<p>Central Pennsylvania\u2019s distribution market serves as a crossroads of sorts for industrial users seeking easy access to the Northeast, Mid-Atlantic, Baltimore-Washington and the Eastern Canada markets, and York County is right in the thick of it. The vacancy rate in the submarket is a low 5.1 percent, according to a third-quarter report by CBRE Group Inc.<\/p>\n<p>Hillwood relied on CBRE for representation in the acquisition of the land and has tapped the firm to market Trade Center-83. The project, which is expected to get underway later this year, was well received by the lending community. \u201cGenerally, financing options for quality projects are getting better and key market locations like Central Pennsylvania are viewed favorably,\u201d Frederick said.<\/p>\n<p>Trade Center-83 is on track to reach completion in the fourth quarter of 2015.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hillwood will develop Trade Center-83 in York County, Pa., to address growing demand for Class A industrial product in a major corridor.<\/p>\n","protected":false},"author":969,"featured_media":1004108304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21783,10],"tags":[],"class_list":["post-1004108302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-investment","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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