"Today tenants and owners want to maximize their long-term facility value more than ever. In fact, we are now encountering corporate cost reduction officers in our real estate transactions," says DP's Michael J. Alderman, Partner-Eastern Region, in a statement. "Sustainable development represents potential operational life-cycle savings in excess of 20%, compared to non-certified facilities." He predicts that during 2010, approximately 30% of corporate America will engage in green as a way of doing business 60% of the time.
Completed in June of last year, LEED-certified Building K is a cross-docked distribution center, designed to accommodate multiple users in spaces starting from 86,400 square feet. Situated on a 25-acre site, the complex features a 32-foot clear-height ceiling, 60-by-60-foot bays, 96 truck-dock positions, four drive-in doors, ESFR fire-suppression system and parking for 88 trailers and 235 cars.
In October 2008, DP signed a long-term lease for 106,655 square feet in the building with Long Beach, CA-based Brighton-Best International Inc. So far this year, DP has inked long-terms deals with UPS--90,000 square feet--and Sears--84,000 square feet. Currently, there is 85,000 square feet available for lease.
Since it acquired the park in 2005, DP has developed five buildings, totaling nearly 1.5 million square feet, at LogistiCenter at Logan. The project is a joint venture of DP Partners and Boston-based Great Point Investors LLC. Bill Goodwin, SVP in the Philadelphia office of CB Richard Ellis, Inc., is the exclusive leasing agent for the park's existing and speculative buildings. Mt. Laurel-based NAI Mertz is the listing agent for land and build-to-suit requirements.
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