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MECHANICSBURG, PA-Winston-Salem, NC-based Carolina Logistics Services has leased the 400,000-sf warehouse/distribution building at 100 Louis Pkwy. in the Golden Triangle Industrial Park. This February, Industrial Developments International acquired the building from locally based Triple Crown Corp. for $18.4 million.
Carolina Logistics is a third-party reverse logistics supplier, which handles returns from a major national retailer. The value of the lease is undisclosed. At the time of the building sale, John Van Buskirk of Harrisburg-based NAI/CIR told GlobeSt.com, "face rates for new warehouse space in the Harrisburg market is running from $4.10 per sf to $4.35 per sf, triple net."
Buskirk and Jack Shepley of NAI/CIR's industrial properties group represented Triple Crown in the sale to Atlanta-based IDI and also represented IDI in the lease transaction with Carolina Logistics along with Frank Petkunas, IDI's VP and regional development officer in the company's Philadelphia office.
Larry Maister, formerly with Trammel Crow Co. and now SVP in the Wayne office of CB Richard Ellis, represented the tenant. Like the NAI/CIR brokers, he declined to disclose the value of the lease. Maister tells GlobeSt.com that rent rates for warehouse/distribution centers in this area are $4.25 per sf.
Triple Crown completed the building in 2006. In a statement, Petkunas says the park "provides Carolina Logistics modern, strategically located distribution space. The Harrisburg market is a major hub for Northeast distribution, and Golden Triangle is located less than one mile from I-81 and under two miles from I-76."
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