The new building will be the fourth facility built at Leetsdale in the past three years. The first, a 107,000-sf building, was completed in 2000 and is 100% leased to Global Industries, Chas. Levy Trucking and Qwest Communications.
A second, 107,000-sf building, completed the following year, is 100% leased to Wilmar Industries and Pennzoil. Pennzoil currently occupies 70,000 sf and will move to its new location in the park when that reaches completion in November.
The third new, 306,000-sf class-A warehouse space is 92% occupied. Occupancy in the renovated, crane-served, 1.2-million sf of manufacturing space is 80%.
Leetsdale is located on Route 65, about 15 minutes northwest of Pittsburgh. "We chose Leetsdale because it is central to our supply points and very accessible to the interstate highway system," says Andy Dengel, Pennzoil's operations manager, in a statement.
Total development cost for Leetsdale Industrial Park is $60 million, including infrastructure, roadways, rail lines, barge unloading facilities, construction of the new buildings and renovation of existing manufacturing buildings.
Meanwhile, Chapman plans construction of an additional 650,000 sf of industrial and office space for the park. Groundbreaking for the next building, a spec 120,000-sf facility, is scheduled for early 2003.
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