BETHEL, PA-Dermody Properties and the Berks County Industrial Development Authority have acquired 89.2 acres in Berks Park 78, for development of an industrial facility – build-to-suit, or possibly speculative.
“With this project in particular, our plan is to offer a client superior solutions for distribution and warehousing operations,” said Gene Preston a Dermody partner based in the East Region Office, which handled the transaction for the nationwide company.
“Berks Park is the ideal place for us to develop an industrial building that will meet the needs of companies who want to reach the Northeastern population effectively and efficiently.”
The 323-acre industrial complex is situated directly off Interstate 78. It can accommodate a total of 3.1 million square feet of buildings. Dollar General and PetSmart both have industrial facilities already under construction in Berks Park 78.
The area provides an “excellent labor supply for distribution and warehouse operations,” according to the Berks County authority.
“Our strategy of preparing shovel-ready sites has really paid off. We're thrilled that in less than a year we're able to announce another sale,” said Tom McKeon, executive director of the authority.
“With the right sites and the right partners, we will be able to continue to strategically develop and lease state-of-the-art industrial facilities in highly desirable markets like the greater Philadelphia area,” said Douglas A. Kiersey Jr., Dermody's president in a statement. “This location will be prime for a build-to-suit, or for Dermody Properties to develop on a speculative basis, depending on the environment.”
Preston and James Mascaromanaged the transaction for Dermody. Jeffrey L. Williams of Cushman & Wakefield of Pennsylvania represented the county.
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