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JESSUP, PA-BAX Global has signed a lease for 64,750 sf at Seven Alberigi Dr. in Jessup Small Business Center. This agreement takes occupancy in the 165,750-sf spec warehouse facility just completed by Chicago-based Verus Partners to 100%.

Joe McDermott, SVP, and Vincent Ranalli, associate in the Wayne office of CB Richard Ellis, represented the Irvine, CA-based BAX. Bill Wolf, SVP in CBRE's Allentown office, represented Verus. The value and terms of the lease are undisclosed. Ranalli tells GlobeSt.com the asking rent rates for class A warehouse/distribution space in this area near Scranton "range between $4.25 per sf and $5 per sf, depending on TIs and other factors."

BAX, a subsidiary of Deutsche Bahn AG, is one of the world's largest third-party logistics suppliers and "one of the most technologically advanced," according to Ranalli. This facility will serve as the main distribution center for one of its clients. BAX will use a "pick-to-light" system that lights up a product's location on a rack for quick and accurate inventory selection and tracking.