BETHLEHEM, PA-Work has begun on a speculative industrial building here, a joint venture by Trammell Crow Company and Clarion Partners. A 677,088-square-foot Class A building is scheduled to be completed by next spring.
The warehouse is going up on a 40-acre site within Lehigh Valley Industrial Park VII, a master-planned business park off Interstate 78. Once home to Bethlehem Steel, the park is now a designated Local Economic Revitalization Zone. That means new construction projects are eligible for up to ten years of municipal, school and county tax relief. The Park is also home to the Bethlehem Intermodal Terminal.
The new building at 2485 Commerce Center Boulevard will have 32-foot clear height ceilings, 190-foot-deep truck courts, ESFR sprinkler systems, state-of-the-art logistical infrastructure and abundant parking, according to the developers.
“We believe that the Lehigh Valley is one of the most sought-after industrial markets in the entire country and this location within the Valley is exceptional,” said Andrew Mele of Trammell Crow Company's Northeast Metro business unit. “We are pleased to be delivering this project at a time when supply is limited and demand is strong.”
“We believe the project will play an important role in driving additional business and job growth in the city of Bethlehem,” said Dayton Conklin of Clarion.
Joseph McDermott and Vincent Ranalli of CBRE are the listing brokers for the project.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
