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MACUNGIE, PA-Opus East LLC will expand further into the Lehigh Valley warehouse/distribution market. It has acquired 89 acres of industrial-zoned land fronting Rte. 100 at Alburtis Road where the Plymouth Meeting-based developer plans Macungie Crossings, a three-building, 1.2-million-sf warehouse/distribution complex.
The Orefield-based Jaindl Land Co. sold the land to Craig Guers, Opus East svp. Guers declined to disclose the cost of the parcel, but says the estimated construction cost of the full complex is expected to exceed $55 million. Subject to the Department of the Environment and municipal authorities' approval of the proposed site plan, the first building, Macungie Crossings I, will break ground around Oct. 1.
It will be approximately 400,000 sf and ready for occupancy in second quarter 2007. It is being built on spec, Guers says, telling GlobeSt.com the rental rates "will be in a range of between $4.80 per sf and $5.40 per sf net." Two more buildings of approximately 580,000 sf and 210,000 sf, respectively, will follow "in response to market demand."
Opus East, which is a unit of Minneapolis-based Opus Group, recently completed a 292,333-sf regional package sorting facility for DHL on 72 acres at 910 Nestle Way in Allentown. It has also completed approximately 443,000-sf of warehouse space in Bethlehem Crossings Industrial Park near Bethlehem, which is fully leased. Later this year, it plans to begin construction of Bethlehem Crossings IV and V on 50 acres it recently acquired in Lower Nazareth Twp.
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