(To read more on the industrial market, click here.)

CHAMBERSBURG, PA-The Malvern-based Liberty Property Trust has acquired 55 acres at 95 Kriner Rd., called the I-81 Distribution Center, and plans to build a 837,540-sf spec facility. The Philadelphia-based BPG Properties Ltd., an affiliate of Berwind Property Group, sold the land for $8.5 million, or $154,545 an acre.

The spec facility will be designed for warehouse, distribution, light manufacturing and office use. It is designed by the Atlanta-based ARCO Design/Build and is projected to reach completion in spring 2007. A Liberty spokeswoman confirms that the REIT is developing in the Chambersburg market, but was unable to disclose details by deadline.

Brokers in the Philadelphia office of CB Richard Ellis represented BPG and Liberty has retained Joe McDermott, SVP, along with Vince Ranalli and Jeff Watson in that CBRE office to market the center. McDermott tells GlobeSt.com, "there is a pool of about 14 prospective tenants looking to lease up approximately 4.3 million sf of industrial space in the I-81 corridor." Targeted tenants include third-party logistics suppliers, national retailers and food service groups, he says.