(Read more on the industrial market.)
PITTSTOWN TWP., PA-Kimberly-Clark Global Sales Inc. has signed a lease for 744,080 sf in CenterPoint Commerce & Trade Park East. This takes up more than half of the 1.1-million-sf spec industrial development Wilkes-Barre-based Mericle Commercial Real Estate Services began readying for construction this May, as GlobeSt.com previously reported.
Lee Fein and Michael Zerbe, SVPs in the Philadelphia office of Colliers Lanard & Axilbund, represented Kimberly-Clark in the negotiations, and Mericle spoke for itself. The terms and aggregate value of the deal are undisclosed. This September, Jim Cummings, Mericle's VP of marketing, told GlobeSt.com that the market rate for new class A spec industrial space in this area ranges from $4 per sf to $5 per sf.
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