Search
 

Opus East Plans $23M Spec Warehouse in Allentown

PHILADELPHIA-The Philadelphia regional headquarters of Minnetonka, MN-based Opus plans to break ground for the 607,000-sf building in August. This follows the developer's completion of an 822,000-sf warehouse on the same 80-acre parcel, now 100%-leased and anchored by Procter & Gamble.

By Marita Thomas | Updated on February 27, 2003

PHILADELPHIA-Among the Minnetonka, MN-based Opus real estate development firm’s growing commitments in the Delaware Valley is a second warehouse facility on an 80-acre parcel it owns outside Allentown, PA. It will break ground in August for a 607,000-sf spec building there, according to Craig Guers, VP and general manager of Opus East, the company’s Philadelphia regional headquarters, based in Plymouth Meeting, PA.

Total cost of the facility is projected at $23 million, or about $37.89 per sf, Guers tells GlobeSt.com. The first building on the parcel, an 822,000-sf warehouse, is now fully leased, he reports, and the major tenant is Procter & Gamble. Opus East acquired the parcel three years ago.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.