BETHEL TOWNSHIP, PA—Dermody Properties, and its Canada-based partner Granite Real Estate Investment Trust are building a 750,000-square-foot spec industrial/warehouse facility here. The project, which just broke ground, will cost about $39.8 million to build, Eugene Preston, a partner at Dermody's East Region office, tells GlobeSt.com.
Preston would not reveal the dollar split between the Granite and Reno, NV-based Dermody except to say that Granite is making a "significant investment" in the development. The two have partnered on several projects, the latest being an industrial asset just completed in Louisville.
The developers are hoping to target e-commerce firms as the facility's main tenants. It located in Berks Park 78, in the state's I-81 and I-78 industrial corridor.
This location, says Preston, would be attractive to potential e-commerce firms because of its proximity to the New York City Metro Area, Philadelphia and even as a New England gateway.
Additionally, there is plenty of room for parking. It is now planned for 316 car spaces and 322 trailer areas, which could be converted to more room for automobiles if a prospective tenant desired.
Berks Park 78 is already home to distribution facilities for Dollar General and PetSmart. It will total 3.1 million square feet when built out.
Dermody currently has 3.5 million square feet of industrial under development across the country and seeks more joint-venture and build-to-suit opportunities.
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