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CARLISLE, PA-DP Partners has broken ground for a 238,620-sf distribution facility, its fourth in the 246-acre, master-planned LogistiCenter at Carlisle. Being built on a speculative basis, it will reach completion ahead of a larger, 811,200-sf spec building the Reno, NV-based company began this summer.
"This is a smaller building and the fourth site is a little easier to work," Michael Alderman, director of leasing in DP's Harrisburg office, tells GlobeSt.com. "This will be completed in January and the first phase of the larger one will be delivered in April." The larger building is expandable to nearly 1.4 million sf.
He declined to disclose construction costs and says none of the space in either building is preleased. The new building is designed for single-tenant occupancy or for multi-tenant use for tenants requiring as little as 70,000 sf. The asking rent rate in both locations is $4.45 per sf.
"There is strong market demand for class A logistics facilities of all sizes in Central Pennsylvania," says Stephen Bailey, DP's mid-Atlantic regional manager. Referring to the second-quarter 2006 completion of the larger building, he says, "we recognize that there are other supply chain companies that need this location and have more modest space requirements. We now offer the market a wide spectrum of facilities for maximum occupancy flexibility."
The park's first building, an 806,474-sf multi-tenant warehouse/distribution property, was built on spec and completed in 2004. It is now 100% leased to two tenants. Ann Arbor, MI-based Borders Group Inc. occupies 598,474 sf, and Naugatuck, CT-based Kuehne + Nagel Inc. occupies the other 208,000 sf.
The second building, a 550,184-sf multi-tenant distribution facility, was completed in the fourth quarter 2005 and is now nearly 80% leased. Crown Bolt Inc., an Aliso Viejo, CA-based subsidiary of the Home Depot, occupies 297,228 sf and Bayport, MN-based Anderson Corp. has leased 137,814 sf. "We're currently working with tenants for the remaining space," Alderman says.
Eric Scott, DP's development manager for the park, says, "We feel confident that the first phase of the third building will be fully leased before construction is completed." The park can accommodate up to six buildings, ranging in size from 238,000 sf to 1.4 million sf. The developer has municipal approvals for up to four million sf of total build-out space and all significant infrastructure improvements have been completed.
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