(To read more on the industrial market, click here.)
BREINIGSVILLE, PA-Before the buildings are completed, Malvern-based Liberty Property Trust has obtained leases for two new distribution facilities, aggregating 913,500 sf, in the Boulder Business Center. The value of the leases is undisclosed, however, the asking rental rate, published on Liberty's website, ranges from $4.50 per sf to $6.50 per sf.
Dial Corp. has signed a lease for the 726,000-sf building under construction at 8400 Industrial Blvd. in the center and will take occupancy in April 2007. Dial, a global supplier of soaps, detergents and related consumer products, is an affiliate of Dusseldorf-based Henkel KGaA with US headquarters in Scottsdale, AZ. Troy Briggs in Liberty's Lehigh Valley office, negotiated the transaction.
Waukegan, IL-based Uline Inc., a supplier of packaging and shipping supplies, has preleased a 187,500-sf building at 8201 Industrial Blvd. on which Liberty has just begun construction. This represents an expansion for Uline, which also occupies a 363,000-sf building at 400 Boulder Drive in the center, which Liberty developed in 2004. The new building is on a 15.6-acre parcel behind Uline's current facility.
These two buildings take the Boulder center to an aggregate of six million sf. Liberty's significant stake in the Lehigh Valley and Central Pennsylvania also encompasses properties in Lehigh Valley Corporate Center; Lehigh Valley Industrial Parks I, III and IV; Meadows Business Center, Stabler Corporate Center, Lehigh Valley West Park, William Penn Business Center and Fairview Business Park in addition to the Boulder complex.
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